This work is
designed to examine the assessment of the role of the mass media in
anti-corruption campaign. It is organized into five very instructive
Chapter one deals with the background,
statement of the problems, research questions and hypotheses,
assumptions and limitation of the study among other things. Chapter two
is devoted to the review of relevant materials in the area of study.
Chapter three contains the methodology while chapter four concentrated
on data analysis and the results of the findings. Also chapter five
gives a brief summary of the work.
chapters, the objectives of the study was in that the researcher not
only found that the mass media are indispensable but they are also
powerful in their influence.
research was done to bring to light various frauds in Nigeria banking
system, having analyzed the rate and incidence of fraud, causes, forms
and solutions. However, this research discussed frauds in chapter as
Chapter one: Highlights on the objectives, importance of
the study of the causes of frauds, analysis and solution of frauds, the
statement of problem, hypothesis formations and definition of frauds.
two: Deals on the review of literature on frauds in Nigeria banks and
foreign banking system, causes of frauds the effect and preventive
Chapter three: Reveals the study area as regard to
frauds in Nigeria banks, this was done by employing some sampling
methods in the investigation in achieve the aim.
This gives the overall view of the presentation of data and all the
analysis involved using interview and questionnaire method.
Chapter five: Discussed the summary, findings recommendation and conclusion
TABLE OF CONTENT
1.2 Objective of the study
1.3 Significance of the study
1.4 Statement of study
1.5 Hypothesis formulation
1.6 Scope and limitations of the study
1.7 Definition of terms
2.1 Review of related literature
2.2 Causes of frauds
2.3 Forms of frauds
2.3.1 Internal fraud
2.3.2 External fraud
2.3.3 Combined fraud
2.4 Types of frauds
2.5 Effects of frauds in banking industry
2.6 The legal framework and fraudulent practice
2.7 Approach to the minimization of suggestions for the prevention of fraud.
Research Design and Methodology
3.1 Study area
3.2 Sampling Method
3.3 Sources of Data
3.3.1 Primary sources
3.3.2 Secondary Data
3.3.3 Data treatment techniques.
Presentation of Data and Analysis
4.1 Presentation of Data
4.2 Analysis of Data
4.3 Interpretation of Results
Summary of findings, Recommendations and Conclusion
5.1 Discussion of Findings
The commercial world today has been devastated by random breaches of
business ethics. This has resulted to rampant occurrence of white collar
crimes committed mostly by top and highly educated professional
personnel, these crimes are sometimes euphemistically dubbed, executive
dishonesty crimes like improper waiver of interest on loans, fraudulent
false accounting, falsification, computer fraud, dishonesty,
classification of debts as bad debt or irrecoverable, non-disclosure of
vital interest by executive, and other financial malpractices, fall into
Furthermore, the government has
responded by churning out laws with constant regularity in a bid to meet
the challenges posed by these problems. One of such problems is the
incidence of fraud in financial institutions especially Nigeria banks.
This has attracted at least three major legislation in the past few
years. All these relevant enactments will be examined in this project.
It is a notorious fact that frauds are mostly masterminded by insiders,
at times in concert with outsiders. They are mostly discovered by tip
offs from other staff who feel left out or by accident. Rarely do normal
official checks reveal such earth shattering fraudulent scams that are
big concern of the financial world.
Moreso, there is
need to arrive at an acceptable constitution for the word “fraud” and to
deepen our understanding by paying some respect to the statutory
construction of financial institution like Nigeria banks.
Having dealt with the general situation of things ion our banking
industries, the research work is therefore aimed at pointing out the
major causes of fraud in Nigeria banks etc. effects on the Nigeria
economy commercial world, individuals especially the depositors
(customers of the banks) after the research must have been carried out
the above, the researcher then recommended the measures to be taken in
order to prevent and minimize the incidence of fraud in Nigeria banks.
It should be noted that no bank, big or small is immune from fraudulent
particles. However, bankers should have it as the back of their minds
that dignity and hard work are not the only thing required but integrity
is also required.
1.2 OBJECTIVE OF THE STUDY
The objective of this study is to enable us know that for any financial
institution like bank to be on the move in respect of growth ion the
economy, there is need to work out possible solutions that can put a
stop to fraudulent practices or bring it to a minimal level
In a nutshell, this project is designed for the following.
- To determine the rate and the extent of fraud in the banking industry in Nigeria.
- To bring to light some of the ceases of fraud in our banking sectors.
- To highlight on the dangers/menace of fraud in Nigeria banks
- To discover the likely procedure that will enable us determine fraudulent practices nad possible ways of tackling them.
examine critically the management and government measures as regards to
the possible checking of fraud and preventive measures.
- To render some recommendations and suggest possible solutions on the best way fraud could be brought to a minimal.
1.3 SIGNIFICANCE OF THE STUDY
The study enhances various examinations of the techniques usually
employed by the fraudsters. It is structured for all classes who may
want to invest in banking industry especially in Nigeria. Bad
performance and incompetent discharge of duty as a result of this
category’s activities (who are employed by the management) when properly
examined will be a contributory to the growth in banking industry. When
all measures are strictly adhered to it would go a long ways in
bringing fraud to a minimal.
The research work is to
enable all and sundry such as: the shareholders, the insurance companies
and the management to benefit, the customers so as to rebuild and
reverse the already lost confidence of the public and the parties
involved in the banking industry. This will enhance rapid growth in the
banking industry which will enhance rapid growth in the banking industry
which will in-turn enhance the development of this nation Nigeria
1.4 STATEMENT OF THE STUDY
The banking industry seems to be s focal point of fraudsters. It is s
notorious fact that frauds are master minded by the banker, at time in
concert with outsiders. It is incredible that bankers whose watch word
should be “Transparent honesty” have turned to become looters and by so
doing, creating fear in the minds of the public.
Newspaper pages are jain-picked with reports ob fraud cases in banking
industry, however, most computer frauds cases like other frauds are not
usually reported by banks and this may be due to the embarrassment it
would cause the institution, the loss of public confidence as well as
the difficult of prosecution of such cases.
estimates that not less than average amount of one million naira per
working day of the financial year is made away by fraudsters. The amount
lost is quite a set back to our economy. The management of these
respective banks have taken cognizance of these fraud issues yet they
have not worked out a permanent solutions to this problems.
It is so painful that we do not really know who is trust in the banking
industry since they have failed many depositors, shareholders and a lot
of non-bankers have been discouraged from banking their money because
of the fear that the bank may collapse at any time. They prefer keeping
their idle cash with them instead of banking with people dubious
In other words, frauds frustrate the
banking habit of the society. Fraud leads to stunted growth of banking
industries due to great losses involved it could also hinder commercial
growth fraud deteriorates any nation economy development
1.5 HYPOTHESIS FORMULATION
is a stated assumption made about a population which must be tested and
proved. Hypothesis could be classified into two major types namely.
Null hypothesis (Ho) signifies no difference or no relationship exist
between two or more alternatives variable in other words, it is a
hypothesis of “no effect” no difference”
Alternative/positive hypothesis (H1) is the proposition that may be
accepted if the stoical null hypothesis is rejected by the sample
Let Ho – Null Hypothesis
Hi – Alternative hypothesis.
- Ho: Internal and external control system do not reduce fraudulent practice to the minimal in Nigeria banks.
Hi: Internal and external control system reduces fraudulent practices to minimal in Nigeria banks
Legal control of frauds in Nigeria financial institution especially
commercial banks has no relationship with the minimization of fraudulent
Hi: Legal control of frauds in Nigeria financial
institution especially commercial banks has relationship with the
minimization of fraudulent practices.
- Ho: The introduction of information technology has no great impact on banking industry in respect of services and frauds.
Hi: The introduction of information technology has great impact on banking industry in respect of services and frauds.
Ho: Nigeria deposit insurance Decree of 1988 (NDIC) has no power to
make regulations guiding specific items with respect to the day to day
management of the regulated institutions like the commercial banks.
Hi: Nigeria deposit insurance Decree of 1988 (NDIC) has power to make
regulations guiding specific items with regulation to the day to day
management of the regulated institutions like the commercial banks.
1.7 DEFINITION OF TERMS
In explaining fraud as an element of some other officers, the criminal
code ascribes it as a situation correlation with deceit. But a workable
definition can be traced to the Osborne’s concise law Dictionary
(6th edition). Thus fraud can be seen as the obtaining of material
advantage by unfair or wrong means. This may be either by way of abuse
of entrusted reasonability by convert of overt deceit. In a liberal
sense fraud may be used as an umbrella term to cover almost all classes
of white collar crimes known to law and business.
Fraud can also be defined as one type of irregularity. It is usually
reflect to irregularities involving the use of criminal deception to
obtain unjust or illegal advantages (by Okorie Onovo, ACAS,
understanding Auditing and Investigation.)
also said to be conscious premeditated action of a gang of persons with
the intention of altering the truth or fact for selfish personal
monetary reward. This involves the use of deceit and tricks and
sometime highly intelligent or cunning methods. This action usually
takes the form of signing of documents and authorizing signature
outright theft. (by Adeewumi 1986)
There are so many
definitions of fraud but the researcher decided to present just three
definitions. All definitions seemed to be correct but the former that of
that of Osborne’s concise law Dictionary (6th Edition|) contains
elements of frauds appropriately and adequately for the purpose of this
These tow impact element are
That for a fraud to take place, there must be obtaining of material advantage wrongly
There must be abuse of entrusted responsibility or convert of overt
deceit that means that in this case a party is exposed to losses while
the other part gains
It will be of great importance to
briefly mention on the occurrence of fraud to answer the question WHEN
DOES FRAUD ARISE?
Fraud arises when a person in a
position of trust and responsibility breaks the rule and regulations to
advance his personal interest at expense of the public interest he has
been entrusted to guard and promote. It also arises when a person
through deceit trick or highly intelligent curing gains an advantage he
could not otherwise have gained through lawful, just or normal process.
Fraud is a mater of individual choice and opportunity. As human beings
the individual takes the advantage if there is opportunity and possible
means of getting away with it.