RISK MANAGEMENT STRATEGIES AND THEIR EFFECTIVENESS IN ENHANCING ORGANIZATIONAL SECURITY IN NIGERIA

Risk management strategies are essential for organizational security, especially in countries facing complex economic, technological, and security challenges such as Nigeria. This study examines key risk management strategies enterprise risk management (ERM), risk identification, assessment and mitigation, corporate governance, and cybersecurity practices and evaluates their effectiveness in enhancing organizational security across Nigerian firms. Using a systematic literature review and synthesis of empirical studies from diverse sectors (insurance, banking, manufacturing, and service firms), the paper analyzes how these strategies shape operational resilience, performance, and security outcomes. Findings reveal that ERM and integrated risk practices are positively associated with enhanced organizational security and performance, though implementation challenges persist. The study concludes with recommendations for strengthening risk frameworks and strategic security investments in Nigerian organizations.