Research Article

Strategic Risk Practices and Stakeholder Engagement: Examining Enterprise Risk Management (ERM) and Co-Creation in Nigerian Microfinance Bank Performance

Shuaib Abdulyakeen1*, Idris Ahmed Aliyu2, Halimah Sani Sambo3, Tijjani Bashir2
1 Ahmadu Bello University, Zaria, Nigeria
2 Ahmadu Bello University, Zaria
3 Ahmadu Bello University
* Corresponding author: scholarshuaib@gmail.com
Published: Aug, 2025
DOI: 10.67203/jarmf.2025.0essvycz
Pages: 24-44

Abstract

This study investigates how strategic risk practices through the lens of ERM and stakeholder engagement via co-creation influence the performance of Nigerian microfinance banks. Drawing on systems theory, this study addresses gaps in understanding ERM and co-creation in emerging markets, where MFBs face multiple challenges, including regulatory compliance, credit, performance, and trust-related issues, in their efforts to promote financial inclusion. This study employed a quantitative approach, distributing structured questionnaires to 113 selected MFBs, yielding 80 valid responses (71% response rate). Partial Least Squares Structural Equation Modelling (PLS-SEM) was used to test the study's hypotheses. Both construct reliability and convergent validity were assessed and established. Findings revealed that ERM (β=0.377, p

Keywords

Strategic Risk Practices ERM Microfinance Bank

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How to Cite

Abdulyakeen, S., Aliyu, I. A., Sambo, H. S., & Bashir, T. (2025). Strategic Risk Practices and Stakeholder Engagement: Examining Enterprise Risk Management (ERM) and Co-Creation in Nigerian Microfinance Bank Performance. Journal of Actuarial, Risk Management and Finance, 1(1), 24-44. https://doi.org/10.67203/jarmf.2025.0essvycz

S. Abdulyakeen, I. A. Aliyu, H. S. Sambo, and T. Bashir, "Strategic Risk Practices and Stakeholder Engagement: Examining Enterprise Risk Management (ERM) and Co-Creation in Nigerian Microfinance Bank Performance," Journal of Actuarial, Risk Management and Finance, vol. 1, no. 1, pp. 24-44, August 2025. doi: 10.67203/jarmf.2025.0essvycz

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