MANAGEMENT PRACTICES OF REGULATORY AGENCIES IN ADVANCING ECONOMIC CREDIT TRANSACTIONS: COMPARATIVE DIMENSIONS

This paper examined the risk management practices of regulatory agencies in promoting economic growth and credit transactions in Nigeria. The background to the paper was that weak regulatory oversight and poor risk management had historically undermined financial stability, increased nonperforming loans, and constrained credit flow to the real sector. Key issues addressed included regulatory capacity gaps, inadequate enforcement of prudential guidelines, political interference, and poor inter-agency coordination. The paper also identified challenges such as limited data infrastructure, corruption, and the inability of agencies to adapt to fintech innovations. Findings showed that effective risk management practices by agencies such as the CBN, SEC, and NDIC significantly reduced systemic risk, improved investor confidence, and enhanced credit transactions. It was concluded that sound regulatory risk management was critical to sustainable economic growth. The paper recommended strengthening regulatory autonomy, adopting risk-based supervision, improving data analytics, and enhancing collaboration among agencies to foster a stable credit environment.