IMPACT OF MONETARY POLICIES ON PERFORMANCE OF UNION BANK OF NIGERIA PLC
Abstract
ABSTRACT
This study examines the impact of monetary policies on the performance of Union Bank of
Nigeria Plc. Monetary policy, driven by the Central Bank of Nigeria, influences financial
markets and economic behavior by regulating the money supply. The research aims to evaluate
the effects of monetary policies on banking performance, identify challenges, and propose
solutions. A survey was conducted using 100 questionnaires distributed to staff at the Union
Bank Head Office, Lagos. Of these, 90 responses were retrieved, with 60 from males and 40
from females. A 5-point Likert scale was employed, and data were analyzed using chi-square
methods. Findings revealed inefficiencies in banking operations and their adverse effects on
Nigeria’s economy. Recommendations include fostering long-term funding through pension
and mutual funds, strengthening loan repayment frameworks, and adopting modern interest
risk management tools. Effective banking operations are crucial for Nigeria's economic
growth.
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