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Abstract
This study sought to ascertain the effect of Financial Risk on Financial Performance of quoted Commercial Banks in Nigeria from 2010-2019 using a sample of thirteen (13) commercial banks. Ex-Post Facto research design was employed while secondary data were collected and subjected to panel least square regression and correlation analysis to achieve the study objectives. Financial Risk, which is the independent variable, was measured by Credit Risk and Operational Risk, while Financial Performance, which is the dependent variable, was measured by Return on Equity. Results of the study suggested that Operational Risk has a significant negative effect on Return on Equity, while Credit Risk has a significant positive effect on Return on Equity. This study recommended among others that, Commercial Banks should comply with relevant provisions of the Banks and Other Financial Institutions Act (1999) as amended and the Prudential Guidelines. Keywords: liquidity risk; market risk; operational risk; return on equity.