Mojeed Owolabi ATORO2024-05-202024-05-202022-12Kate TurabianM.Schttps://repository.lcu.edu.ng/handle/123456789/164The study investigated and established the relationship between internal control systems and financial performance of listed deposit money banks in Nigeria. The objective of the study was to examine the impact of control environment, evaluate the level of risk assessment, determine the control activities and monitoring were used as proxy for internal control systems with return on equity as the measures of financial performance. The study was conducted using descriptive statistics and regression analysis for all listed DMB in Nigeria in 2021. Fifteen of the banks were randomly selected, data were collected using a structured questionnaire. Two hundred questionnaire were rolled out, twenty questionnaire were not returned while one hundred and eighty questionnaire were used for the data analysis. Descriptive statistics obtained from data analysis were presented using frequency tables. While inferential data findings were presented using OLS regression tables. It was discovered that control environment, control activities and monitoring exert a significant positive influence on the listed deposit money banks in Nigeria. Management should improve and work hard on the risk assessment that shows negative coefficient. The study recommends banks should effectively implement and maintain internal controls due to the nature of the riskiness of the banking sector and its impact on financial performance. Keywords: Internal control, Financial performance, Deposit money banks, Control environment, Risk assessment, Control activities, Monitoring, Nigeria. Word Count: 204enThesis