APPRAISAL OF FRAUD CONTROL TECHNIQUES IN NIGERIAN COMMERCIAL BANKS (A CASE STUDY OF FIRST BANK NIGERIA PLC)

ABSTRACT

        Fraud is the number one enemy of the business world.  No Company is Immune to it.  It is in all walls of life.  No where is fraud more serious than in banking, it is the biggest single cause of bank failure.

        The intent of this research is to evaluate the fraud control techniques in commercial banks in Nigeria.  As the techniques is aimed at controlling the cause and effect of fraud.   Two branches if First Bank were used for the study on the understanding that first Bank s a corporate entity has formulated and devised fraud control techniques that is made applicable to all its branches throughout the country.  The choice of First Bank as a case study is based on the  understanding that most banks in Nigerian have simpler strength and weakness.

        In pursuit of the above goal of the research, the researcher administered two types of questionnaire one to the top management of the bank and the other to the Middle and lower Management staff.  Some customers were Interviewed Orally to obtain additional information and also to confirm the result obtained through the questionnaire.

        The response from the questionnaire and Interview were analyzed and Interpreted.  The results obtained were portrayed by means of pie chart, bar chart and tables for simple understanding.

        From the analysis and interpretation for the data, the researcher found out that the fraud control techniques in use by commercial banks in Nigeria are not efficient and effective.  Different types of fraud still exist.

It is well noted that fraud as a  concept is waxing in strength.  It is becoming an expanding Industry.

        Based in these findings the researcher has made serious efforts to push back the frontier of human ignorance about fraud by suggesting new fraud control techniques as to total eradication of fraud cannot be attained.

TABLE OF CONTENT

Title Page         …     …     …     …     …     …     …     …     i

 Approval Page         …     …     …     …     …     …     …     ii

Dedication       …     …     …     …     …     …     …     …     iii

Acknowledgment   …       …     …     …     …     …     …     iv

 Abstract …     …     …     …     …     …     …     …             v

Table of Content  ……     …     …     …     …     …     …     vi

        CHAPTER ONE

1.1      Introduction

1.2      A short back ground/history of fraud

1.3      Statement of problem

1.4      Research and Objectives

1.5      Research /Hypothesis

1.6      Research/Questions

1.7      Significance of the study

1.8      Scope /Limitation of the study definition of terms

1.9      Definition of terms

1.10  References

CHAPTER TWO

2.0      Review of related Literature

2.1   Concept of fraud

2.2      Causes of fraud

2.3      Types of fraud

2.4      Effects of fraud

2.5      Control of fraud

2.6      References

CHAPTER THREE

3.0      Research Design and Methodology

3.1   Population and sample

3.2      Sources of data

3.3      Instrument for data Collection

3.4      Method of data analysis

3.5      Research question

3.6      Method of testing hypothesis

3.7      References.

CHAPTER FOUR

4.0      Presentation and Analysis of Data

4.1   Re-Statement of the problems

4.2      Major findings

4.3      Distribution of questionnaire and collection

4.4      Presentation and analysis of questionnaire

4.5      Presentation and analyses of Oral Interview

4.6      Test f hypothesis

4.7      Interpretation of Research

4.8      References.

CHAPTER FIVE

5.0      Summary of Finding Recommendation and Conclusion

5.1   Discussion of Findings

5.2      Conclusion

5.3      Recommendation.

Appendix

Bibliography.

CHAPTER ONE

INTRODUCTION

The bulk of fund required by the investing sector of most developed or developing business economic of the world is provided by the banking Industry in the main services of mobilizing fund from the saving that is surplus to the investing sector provided by the banking Industry, accounted for the high status the banking Industry is placed in the development of any economy, the rate of economic development of the nationals has hence very closely associated with the effectiveness and efficiency of the banking system of the nation.

Commercial banks as a case study of this research work provides service like acceptance of deposits, safe keeping of valuables, offering of pieces of advice like on investment credit creation and other business published in the gazette by the governor of central bank  designated to mean commercial banking business of all the components of the banking system, Incidence of fraud  occurrence, fraud is also found  in other spheres of life, in government and Industries. Special organisation have been formed to control this fraud.  Interlope tries to deal with it at the international level but it has not been rechecked to the barest minimum, neither has it been full eradicated.

The word fraud is a complex Universal phenomenon, it is rampant in both developed and developing countries and varies across time and placed in its magnitude, its effects on administrative, performance and development, political economical, social cultural and attitudinal factors combine in contributive and the extend beyond the boundaries of nation state.

Fraud is matter of individual choice and opportunity, being human, he is reasonably connived he can get always with it.