INTERNAL CONTROL AND PERFORMANCE OF DEPOSIT MONEY BANKS IN NIGERIA

This study was conducted to examine internal control and performance of deposit money banks in Nigeria using Fidelity Bank Plc as case study. This study adopted descriptive research design and a well structured questionnaire method was used to collect data from the target respondent. The population of this study consists of 5 deposit Money Banks which are Fidelity Bank, Zenith Bank, First Bank, Guaranty Trust Bank, and Wema Bank operating in Abeokuta Ogun State, Nigeria. Purposive sampling technique was also used to select only respondents for the researcher to attain the purpose of the study. Linear regression analysis was used to test the hypotheses. The result of hypotheses one shows a significant value of 0.034 which is less than 0.5, it was concludes that regular internal control system has significant effect on the bank efficiency of deposit money banks in Nigeria. The result of hypotheses two shows a significant value of 0.001 which is less than 0.05, it was concluded that there is significant relationship between internal control system and the operational performance of deposit money banks in Nigeria. Based on the findings of this study it was concluded that Fidelity Bank Plc that had invested on effective internal control systems had more improved organizational performance as compared to those commercial banks that had a weak internal control system. Keywords: Bank Operational Performance, Bank Efficiency, Deposit Money Bank, Internal Control. Word count: 219