FRAUD AND ITS MANAGEMENT IN THE NIGERIAN BANKING INDUSTRY (A CASE STUDY OF SOME SELECTED BANKS)
ABSTRACT
Banks in the country often capture the centre stage of public attention. It is
either banks are being accused for returning questionable level of
profitability particularly seen against the quality of bank services or banks
are collectively held responsible for any unintended consequences of fiscal
policies. Continued and sustained depreciation of the rate of exchange of the
Naira has been attributed to unpatriotic roles of the banks, notwithstanding
the glaring incidences of fiscal indiscipline and shortcomings on the part of
the Government and its agencies. In fact, the banks are ready whipping boys
to be held responsible for all manner of mal-practices and shortcomings of
policy instruments and programmes.
Recently, the incidence of frauds has got the attention of all and sundry and
has been the focus of government attention. The wave of this current
happenings in the financial sector, especially the banking sub-sector dictates
a worrisome pace and makes it an intractable problem of modern day
banking. That our banking industry would finally arrived at this impasse was
a matter of time. Bombarded by inside abuse, outsider scams,
customer/worker collusion and immense wastage, this supposedly enduring
edifice built on assumed unwavering trust has gone through a chaotic
metamorphosis in just under a decade.
From a solid seemingly unyielding financial edifice, we have through
avarice, greed and bad management witnessed some crashes that have
reverberated both on the populace and the government, such that
international confidence in Nigeria is now seriously eroded.
Fraud with its hydra-headed tentacles has over the past decade eaten deep
into our psyche, drained the banks, financial institutions and other
government organizations of their substance.
But is it true that all frauds are due to the activities of bank employees ? Are
these employees a special breed of Nigerians or are they a reflection of the
larger society ? Are bank employees because of their special training,
socialization and the controls in place expected to rise beyond the prevailing
level of probity in the society at large ?
There exists therefore a compelling need to examine ways of arresting,
detecting, preventing and controlling this ‘cancer’. These issues and answers
to the above recurring questions form the focus of this research work.
TABLE OF CONTENT
Title page- – – – – – – – – i
Approval page – – – – – – – -ii
Dedication – – – – – – – – -iii
Acknowledgement – – – – – – – -iv
Abstract – – – – – – – – – -v
Table of content – – – – – – – -vi
CHAPTER ONE
INTRODUCTION – – – – – – – -1
1.0 Background of the study – – – – -1
1.1 Statement of the problem – – – – -5
1.2 Purpose of the study – – – – – -6
1.3 Significance of the study – – – – -8
1.4 Research questions – – – – – -9
1.5 Scope of the study – – – – – – -10
CHAPTER TWO
LITERATURE REVIEW – – – – – – -11
CHAPTER THREE
Research methodology – – – – – – -39
Design of study – – – – – – – -40
CHAPTER FOUR
Presentation, analysis and interpretation of data – -48
CHAPTER FIVE
Summary of findings – – – – – – -60
Conclusion – – – – – – – – -61
Recommendations – – – – – – – -62
Suggestions for further research – – – – -64
References – – – – – – – – -65
Appendix I – – – – — – – – -68
Questionnaire. – – – – – – – -69
FRAUD AND ITS MANAGEMENT IN THE NIGERIAN BANKING INDUSTRY (A CASE STUDY OF SOME SELECTED BANKS)
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