Risk Management Frameworks and Business Continuity in Nigerian Commercial Banks During Economic Downturns

This study investigates the effectiveness of risk management frameworks in supporting business continuity for Nigerian commercial banks during economic downturns, with data drawn from banks operating across South West and North Central geopolitical zones. Economic volatility, currency depreciation, and inflationary pressures have repeatedly tested the resilience of Nigeria's banking sector, underscoring the strategic importance of robust risk management systems. This research adopts a survey research design with 105 risk officers, compliance managers, and executive directors as respondents. Structured questionnaires and secondary financial performance data were analysed using descriptive statistics and regression techniques. The study evaluates risk management dimensions including credit risk assessment quality, operational risk controls, market risk hedging strategies, liquidity risk monitoring, and regulatory compliance adherence. Findings reveal that credit risk assessment quality and liquidity risk monitoring are the most significant risk management dimensions associated with business continuity success during downturns. Operational risk controls showed important but secondary effects. The study also finds that banks with enterprise-wide risk management systems demonstrate significantly greater resilience during economic stress periods. Recommendations include investment in credit analytics technology, real-time liquidity monitoring dashboards, and regular stress testing exercises aligned with Nigerian economic risk scenarios. Keywords: risk management, business continuity, commercial banks, economic downturns, Nigeria.