Competitive Intelligence and Performance of Microfinance Banks (MFBs) in Nigeria
Fabian Chinedu Osita *
Department of Business Administration, Nnamdi Azikiwe University Awka, Anambra State, Nigeria.
Hope Ngozi Nzewi
Department of Business Administration, Nnamdi Azikiwe University Awka, Anambra State, Nigeria.
Chigozie Chinonso Ojimba
Seplat Petroleum Development Company Plc, Warri, Delta State, Nigeria.
Chimezie Ifechukwu
Wema Bank Plc, Benin, Edo State, Nigeria.
*Author to whom correspondence should be addressed.
Abstract
The sustainability issues faced by microfinance banks (MFBs) in Nigeria necessitated this study to examine the effect of competitive intelligence on performance of MFBs in Nigeria. The study adopted the use of survey research design. The study population was made up of 112 employees of 28 MFBs. Primary source of data collection was deployed (questionnaire) and reliability was done using Crombach Alpha with a reliability statistic of .899. Descriptive statistics (mean) and inferential statistics (regression analysis) at 5% level of significance was adopted for data analysis and test of the hypothesis respectively. The result revealed that strategic intelligence indeed had a statistically significant relationship with the performance of MFBs in Nigeria (r =.863; R-Square = .746; F = 284. p-value < 0.05). It was, therefore, concluded that the environment of business is increasingly becoming more dynamic by the day, hence, the need to keep an eye on it to stay relevant in business.
Keywords: Competitive intelligence, strategic intelligence, performance, Sustainability & Microfinance Banks (MFBs).