MAINTENANCE MANAGEMENT OF FINANCIAL INSTITUTIONS’ BUILDINGS IN NIGERIA

This research aimed to examine the maintenance management policies of financial institutions’ buildings in Nigeria to suggest possible improvements. Questionnaires were used to collect data, which was analysed using simple percentages and correlation coefficients. The findings show that there is a significant policy on building maintenance in the organisations and that the policy has a significant relationship with the performance of the maintenance management in the organisations, with a correlation coefficient of 0.75. The organisations employed a condition-based maintenance strategy and a preventive (fixed time) maintenance strategy. All the institutions have insurance policies on their buildings, viz., burglary, fire, wind, thunderstorms, and other associated perils. It was revealed from the t-test carried out on the samples that there is no significant difference between the maintenance policies of the two groups of organisations examined because t-critical > t-stat. The research recommended the use of competent professional builders to head the maintenance department and to provide adequate budget and cash backing for sustaining and improving the trends of maintenance.