FACTORS AFFECTING BANK FRAUD IN NIGERIA

The research examines the factors affecting bank fraud in Nigeria. The objectives of the study were to
to examine the extent to which bank fraud is prevalent in Nigeria, to examine the nature and causes of bank fraud and to proffer possible solutions to the problem of bank fraud in Nigeria.  Bank fraud is of the biggest single causes of bank failure and distress in the Nigerian banking system. This study therefore sets out to find the common types of bank fraud that are frequently carried out in the banking system, the underlying causes, level of staff involvement, consequences and possible means of ameliorating the problem. The study recommends that sound corporate governance characterized by effective operational practices comparable to international standards, be adopted by top management of banks as an essential ingredient for the prevention of fraud in the banking sector. Top management must also strive to maintain a high degree of ethical standards in the performance of their duties, in view of the fiduciary nature of their functions.