KAY PROJECT

Kolawole Isaac 36 PAGES (9539 WORDS) Project
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FRAUDULENT PRACTICES IN THE BANKING INDUSTRY: ITS IMPACT ON ECONOMIC GROWTH IN NIGERIA (2005-2017)


BY

DAHUNSI KOLAWOLE ISAAC

FPA/BF/16/3-0034



BEING A PROJECT WORK SUBMITTED TO THE

DEPARTMENT OF BANKING AND FINANCE

SCHOOL OF BUSINESS STUDIES

THE FEDERAL POLYTECHNIC, ADO-EKITI



IN PARTIAL FULFILMENT OF THE AWARD OF HIGHER NATIONAL DIPLOMA (HND) IN BANKING AND FINANCE



NOVEMBER, 2018






CERTIFICATION

         This is to certify that this project work was carried out by DAHUNSI KOLAWOLE ISAAC with matriculation number FPA/BF/16/3-0034 has been examined and approved as meeting the requirement of the award of  Higher National Diploma (HND) in Banking and Finance, School of Business Studies, Federal Polytechnic Ado Ekiti, Ekiti State.



  MR. ILUGBEMI   A.O                                                                                       Date

   (Project Supervisor)


                                                                                                                                        

 MR. TIJANI  J.A                                                                                                 Date

  (Head Of Department)







DEDICATION

           This project is dedicated to God Almighty, the giver of life and the author and finisher of my life.

            Also to my dear parents Mr. and Chief. Mrs. Dahunsi and to my brothers and sister for their relentless support towards the success and completion of this programme.

                 God bless you all (AMEN)













ACKNOWLEDGEMENT

          My sincere gratitude goes to God Almighty for his wisdom, knowledge and understanding for the successful completion of this research work. Thanks to him for his divine mercy, protection and strength throughout my Higher National Diploma (HND) Academic years

           I also appreciate my parent, brothers and sister who had made me what I am today, without God and them I would have been nothing and nowhere today.

I appreciate my supervisor Mr. Ilugbemi A.O who was very patient with me and gave me good guidance on how to undertake this project.

Also I appreciate the department lecturers; Mr. Tijani J.A, Mr. Adeleke K.O, Dr. Owolabi Adesegun, Dr. (Mrs.) Mukuolu, Dr. Olasehinde O.D, Mr Ogunlokun A.D, Mr. Olaiya A.C, Mrs. R.B Ajala for the knowledge and wisdom they impacted on me during the course of my academic life in Federal Polytechnic Ado Ekiti.

          Again, I appreciate my friends and course mates; Ishola Temitayo John, Olakanla Phillips, Oyedeji Adeola, Olaloye Samson, Adebisi Ayorinde, Olajide Joshua, Animashaun Folashade, Fatuase Sunday, Balogun Temitope and many more that had helped me throughout my academic years. Thank you all and may God reward you for every single thing you do. Amen.

I am very grateful to Federal Polytechnic Ado Ekiti for the knowledge imparted on me throughout the study period.

Generally, forever you loved ones will be in my heart and I pray we will fulfill our destiny and mostly to see ourselves in the kingdom of God in paradise (Amen).



ABSTRACT

This study was set to investigate various forms of fraudulent practices in the banking industry:its impact on  economic growth in Nigeria, the study seek to examine the effect of amount lost to fraud on Nigeria economic growth and to also examine the effect of number of fraud cases on Nigeria economic growth covering the period between 2005-2017, the main instrument for data collection is through secondary source in which the data were extracted from the statistical bulletin of Central Bank of Nigeria (CBN). The collected data were analysed using inferencial statistics i.e Ordinary Least Square (OLS) regression analysis. Findings revealed that both amount lost to fraud and number of fraud cases have significant impact on economic growth in Nigeria between the periods under study. The research work recommended that banks need to strengthen their internal control system and the regulatory bodies should improve their supervisory role in order to check and curtail the incidence of fraud and fraudulent activities of banks and also relevant institutions established to fight fraud should ensure the enforcement of various legal provisions in the fight against fraud and it effect on economic growth in Nigeria.












TABLE OF CONTENTS                                                  PAGES

TITLE PAGE…………………………………………………………........i

CERTIFICATION ………………………………………………………...ii

DEDICATION…………………………………………………………….iii

ACKNOWLEDGEMENT…………………………………………………iv

ABSTRACT……………………………………………………………….v

TABLE OF CONTENTS ………………………………….……………..vi-viii

CHAPTER ONE

1.0 INTRODUCTION

1.1 Background to the Study……………………………………….1-3

1.2 Statement of the Problem…… ………………………………....3-4

1.3 Research Objectives ………………………………………….....4

1.4 Research Questions ……………………………………………..4

1.5 Research Hypotheses……………………………………………4

1.6 Scope of the Study………………………………………………4

1.7 Significance of the Study ………………………………………4-5

1.8 Definition of terms……………………………………….............5

1.9 Organization of the Study ……………………………………….5-6

CHAPTER TWO

2.0 LITERATURE REVIEW

2.1 Conceptual Review…………………………………..................7-10

2.1.1 Types of Fraud …………………………………………….…...10-13

2.1.2 Factors that Account for the Causes of Fraud……………........14

2.1.3 Effect of Fraud …………………………………………………15-16

2.1.4 Controls of Fraud………………………………………............16-17

2.1.5 Fraud Identification…………………………………………….17-18

2.1.6 Fraud Prevention and Detection……………………………….18-19

2.2.0 Theoritical Review……………………………………………..20-22

2.3.0 Empirical Review of Related Literature ………………………22-24

CHAPTER THREE

3.0 RESEARCH METHODOLOGY

3.1 Method of Data Collection………………………………...............25

3.2 Method of Data Analysis…………………………………………..25

3.3 Model Specification………………………………………………..25-26

CHAPTER FOUR

4.0 DATA PRESENTATION AND INTERPRETATION OF RESULTS

4.1 Data Presentation………………………………………………….27

4.2 Data Analysis and Discussion of Finding………………………....27-31

CHAPTER FIVE

5.0 SUMMARY, CONCLUSION AND RECOMMENDATIONS

5.1 Summary…………………………………………………………….32

5.2 Conclusion…………………………………………….......................32-33

5.3 Recommendations…………………………………………………....33

REFERENCES …………………………………………………….34-35

APPENDIX ………………………………………………………….36


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APA

Kolawole, I (2019). KAY PROJECT. Afribary.com: Retrieved January 17, 2019, from https://afribary.com/works/kay-project

MLA 8th

Isaac, Kolawole. "KAY PROJECT" Afribary.com. Afribary.com, 07 Jan. 2019, https://afribary.com/works/kay-project . Accessed 17 Jan. 2019.

MLA7

Isaac, Kolawole. "KAY PROJECT". Afribary.com, Afribary.com, 07 Jan. 2019. Web. 17 Jan. 2019. < https://afribary.com/works/kay-project >.

Chicago

Isaac, Kolawole. "KAY PROJECT" Afribary.com (2019). Accessed January 17, 2019. https://afribary.com/works/kay-project