MANAGEMENT OF FRAUD IN THE NIGERIAN COMMERCIAL BANKS.
(A SURVEY OF SELECTED BANKS IN NNEWI)
Fraud is finally acknowledgement as a hidden threat to financial institutions in the country. It has remained a Jig Saw Puzzle in our commercial Banks and other financial institutions. People view it with astonishment considering the devastating effects uncontrollability, increasing trend and magnitudes in our news headlines.
In recent times, the frequency of occurrence of fraud and fraudulent practices in almost all non-banking establishment, ministries, schools etc. is unimaginable.
The sporadic rate of spread din banks and even the Apex Bank (CBN) is enough warning signal of eminent doom for the indispensable financialsector of the Nigeria economy.
Based on this fact, this research paper is a source of examining the management reaction towards fraud control using selected commercial banks in Nnewi as a case study.
This study is divided into five-(5) chapter’s chapter one is the introduction outline, deals eminent authors, banking experts, banking chief inspectors and auditors.
Chapter two (2) (literature review) is substantially sub sectioned into various heading which highlight definitions, classification and nature of fraud, causes of fraud, legal implications and liability for losses, manpower resource and financial resource and financial losses resulting from fraud, the innovations in information technology and limitation in human actions.
The concern by the monetary and regulating agencies, the government agencies and all embracing methods of detection and control.
Chapter (3) discuses all research design namely sources of data ie primary and secondary data, questionnaire, face to face interactions with the employees of the three(3) commercial banks in nnewi.
NDIC reports, textbooks, business and financial papers, handout. The area of study was focussed on three (3) banks such as first bank, union bank and all state trust bank, the astonishment used for data collection/questionnaire and personal interviews as well as the derivation formulated and computation of the sample size.
Chapter four (4) leaded presentation and analysis of data,the first section is questionnaire according to how they relate to the research question while the last section in chapter. Four (4) is the summary of result.
Chapter five (5) we have the discussion, recommendation and conclusion of the study, the first section deals with the result obtained from questionaires, the second section on recommendation deals with the researcher suggestion’s towards the problem of the topic and in the conclusion, the final remark of the topic made by the researcher, the researcher made suggestions for further research.
Approval
Dedication
Acknowledgement
Abstract
Table of Content
List of Figures
List of Tables
CHAPTER ONE
Introduction
Background of Study
Statement of the Problem
Purpose of the Study
Scope of the Study
Significance of the Study
Limitation of the Study
Definition of Terms
References
CHAPTER TWO
Review of Related Literature
Definition of Fraud
Major Cause of Fraud in the Commercial Banks
Effect of Fraud on Human Resources in the Commercial Banks.
Effect of Fraud on the Bank Profits and Losses Account.
Impact of Technology on Fraud.
Punishment and Penalties.
Fraud Detection, Prevention and Control.
Reference
CHAPTER THREE
Research Design and Methodology
Research Design
Area of Study
Population of the Study
Sample and Sampling Procedure Techniques
Instrument For Data Collection
Validation of Instrument
Reliability of Instrument
Method of Data Collection
Method of Data Analysis
References
CHAPTER FOUR
Presentation and Analysis of Data
Summary of Result
References
CHAPTER FIVE
Discussion, Recommendation and Conclusion
Discussion of Result
Conclusion
Implication of Result Findings
Recommendation
Suggestion for Further Research
References
Bibliography
CHAPTER ONE
1.1 BACKGROUND OF THE STUDYD
In Nigeria, Bank fraud has assumed a frightening scale and sophistication. The levels in the present day have also grown into epidemic dimension. It has eaten deep into every nerve aspect of our life to the extent that a three years old child talks about 419, (the new discovered sobriquet for an advanced fee fraud) that is shunting us has a nation. The fear is now rife that the increasing wave of fraud in the commercial bank in recent years, if not the commercial banks in recent years, if not arrested, might pose certain threats to the stability and survival of individual, financial institution and the performance of the industry as whole.
For one thing, a fraud result in life financial loses to commercial banks and their customers deposition of shareholder funds and capital base as well as loss of confidence in financial houses.
For another, the incidence of fraud could in the extreme cases lead to the closure of some badly affected banks as have happened in some parts of the world.
The Demise Bank of credit and commerce international (BCCI) London, and the national Banking of Nigeria, the Morgan finance house in Nnewi are few examples.
Many of the distressed banks in Nigeria today suffer from fraud and other fraud relates problem, inside credit abuse and indiscipline.
The extent of fraud in commercial banks rather than that abate has continued to escalate. It is therefore necessary now than ever before that attention is paid to this nefarious international phenomenon as fraudstars become more sophisticated and daring in their approach.
Management of fraud is likened to the management of an ailment.
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