OVERVIEW AND IMPACT OF FRAUDS IN THE BANKING INDUSTRY IN NIGERIA (A CASE STUDY OF FIRST BANK OF NIGERIA PLC)

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ABSTRACT

Fraud is an awful phenomenon, which like a view has invaded Nigeria banking industries and the society in general, and puts any organisation that is comes into in a distress point of in a state of liquidation.

This study highlights the nature and various types of fraud, causes of bank fraud extent of fraud in banks, effect of bank fraud, detection and control measure adopted by management to check fraud incidents.

The purpose of this research work is to find out whether there is significance level of fraud in Nigeria banks to know whether Nigeria practice, aid or abate fraud and to consider the adequacy of the internal control system in detecting and preventing fraud in the bank.

The method of data collection includes journal, textbooks and past work. The findings revealed that compensation of banking services and the maintenance have helped to reduce the incidence of fraudulent activities in the bank in view of this, it is the recommendation that adequate internal control system should be maintained effective fraud management, strict adherence of administrative management policies should be ensured to check and possibly eliminate fraud incidence in the bank.

The detection and prevention of frauds should be elaborate effect between banks, their customers, the public and the government. Fraud in the banking system should as much a possible be minimized as it kills the bank and destroys the economy of a nation.

Finally the research work adduced that continuous vigilance should be the watch work if fraudulent practices are to be reduced and possibly eliminated in the banking industry.

TABLE OF CONTENT

COVER PAGE

TITLE PAGE

APPROVAL PAGE

DEDICATION

ACKNOWLEDGEMENT

PREFACE

ABSTRACT

TABLE OF CONTENT

CHAPTER ONE

1.0Introduction

1.1Background of study

1.2Objective of the study

1.3Statement of research problem

1.4Significance of the study

1.5Limitation of scope

CHAPTER TWO

2.0Review of related literature

2.1Concept of fraud

2.2Sources of fraud

2.3Causes of fraud

2.4Type of fraud

2.5Impact of fraud in Nigeria banking industry

2.6The law and fraudulent practice

CHAPTER THREE

3.0Research methodology

3.1Research design

3.2Source of information

3.3Method of data collection

CHAPTER FOUR

4.1Findings

CHAPTER FIVE

5.0Summary, conclusion and recommendation

5.1Conclusion

5.2Recommendation

5.3Bibliography

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OVERVIEW AND IMPACT OF FRAUDS IN THE BANKING INDUSTRY IN NIGERIA (A CASE STUDY OF FIRST BANK OF NIGERIA PLC)

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