Effective Leadership Practices of Bank Leaders in Nigeria

• Main Author: Ajiboye, Olatunji Joseph
• Format: Others
• Language: en
• Published: ScholarWorks 2017
• Subjects: Effective Leadership Practices; Establishing a Direction; Inspiring Employees; Sustainable leadership; Transactional Leadership; Transformational Leadership; Business; Finance and Financial Management; Social and Behavioral Sciences
• Online Access: https://scholarworks.waldenu.edu/dissertations/3482; https://scholarworks.waldenu.edu/cgi/viewcontent.cgi?article=4585&context=dissertations

The Nigerian banking industry has recently witnessed a major scandal resulting from financial impropriety of some corporate leaders in the industry. The Central Bank of Nigeria (CBN) invested the sum of N620 billion ($4.1 billion) as part of a direct bailout package to 8 banks, and removed top executives of those banks for gross leadership ineptitude. The leadership ineptitude is an indication of the need to better understand effective leadership practices in the Nigerian banking industry. Grounded in transformational leadership theory, the purpose of this multiple case study was to explore bank leaders' effective leadership practices used to sustain bank growth in Nigeria beyond 5 years. Data were collected from semistructured interviews with 5 Nigerian bank CEOs, direct observation, and document reviews. During thematic analysis, 4 themes emerged including establishing a direction, inspiring and motivating employees, raising other leaders, and developing and using leadership competence. The implications for positive social change include the potential for bank leaders to identify sustainable leadership practices, improve profitability, create more job opportunities, and ease unemployment problems in the community.