Managing and resourcing Nigerian banks’ diasporic operations in the UK: An empirical study

Abstract

This study explores the objectives and operations of the diasporic operations of Nigerian banks in the UK. Its aim is to understand why such banks choose to establish a presence in the UK, how they structure themselves, and how they meet the UK’s regulatory standards. By employing a mixed-method approach – a combination of survey data and semi-structured interviews – this research examines the reasons underlying Nigerian banks’ engagement in diaspora banking, their human resources strategies, and the manifestation of their organisational culture within the UK context. The findings illustrate that Nigerian banks utilise either the subsidiary model or the branch model to cater to the financial needs of Nigerian diaspora communities, facilitate international transactions, and support international investment in Nigeria and Africa more broadly. The usually staffing strategy applied involves a mixture of UK-based employees and Nigerian staff seconded from the banks; headquarters in Nigeria, which ensures that the bank are able to adhere to both UK financial regulations and Nigerian compliance standards. The study’s originality lies in its novel contribution to the operational activities of diaspora banking in the UK.