Get the complete project »
- The Complete Research Material is averagely 52 pages long and it is in Ms Word Format, it has 1-5 Chapters.
- Major Attributes are Abstract, All Chapters, Figures, Appendix, References.
- Study Level: BTech, BSc, BEng, BA, HND, ND or NCE.
- Full Access Fee: ₦4,000
The research is on the management of fraud in Nigeria Commercial Banks. The main objective of the study is to identify the causes of fraud in commercial banks. The researcher analyzed the data collected based on the response from the questionnaires distributed
The major findings of the study are:
1. The causes of frauds in commercial bank includes
a. Poor management and poor security arrangement
b. Inadequate staff training
2. The various types of fraud in commercial banks include:
a. Loan fraud
b. Cheque fraud
c. Advance fee fraud. On the basis of the above findings, the study concludes that management of fraud in commercial banks is of the great importance and has a lot of benefit which includes given confidence to the bank customers that their money is safe, encouraging or attracting local or foreign investors. Based on the finding, it is recommended that:
a. Government should establish more anti-fraud and anti-corruption agencies to assist in sanitizing the Nigerian banking system.
b. Bank‟s management should employ strategies that will ensure early and prompt detection, prevention and control of fraud in commercial banks.
1.1 BACKGROUND OF THE STUDY
Over the years, irregularities have been the problems of commercial banks. The term irregularities are used to refer to intentional distortion of financial statement and misappropriation of assets for whatever purpose. Fraud is one type of irregularities. Fraud, in auditing guideline, is used to refer to irregularities involving the use of criminal deception to obtain unjust or illegal advantages.
Fraud may entail that proper accounting records have not been properly maintained, it may also point out that some internal control system are not effective and could not form a reliable source of information for an auditor. Existence of fraud in a financial statement endangers it from showing a true and fair view and complying with the provision of the companies and Allied Matter Acts (CAMA) 1990.
Therefore, fraud in banks must be looked at generally as “acts that involves the loss of assets by banks through dishonest and deceitful means. The fraudster intentionally
but dishonestly benefit himself to the detriment of the bank, the bank staff, bank customers and any other member of the public via banking operations. Fraud can be committed by bank staff, bank customers or a third party that is non-customer (Eze, 2004).
1.2 STATEMENT OF THE PROBEM
Fraud in the Nigerian Commercial banks has been notable and has remained an unavoidable problem and has resisted all practicable treatment. This incidence has not only become an incessant phenomenon but also been on the increase in the recent past.
In recent years, the volume and frequency of fraudulent practices in Nigeria banks have been on the increase. According to the Nigerian Deposit Insurance Corporation (NDIC), the level of reported fraud in Nigeria banks rose from N 804m in 1990 to N3, 199m in 1998. Furthermore, the actual/expected loss to the amount involved in fraud rose from 3 percent in 1990 to 22 percent in 1998. This is evidenced in the report, which is the highest fraud ever reported in any particular year by a Nigerian bank in 1998,
when united Bank for Africa Plc wrote of N786m on account of fraud.
The growing scope and scale of fraud in the Nigerian banking industry is surprising and the general confidence reposed in the banking institutions has become eroded since the new concept of distress, bank failure and closures in the recent years. From available records, out of about 114 financial institutions operating in the country as at 1996, 52 were distressed while 6 were acquired. With the frequent fraud, people are no longer at ease keeping their monies in the commercial banks but instead prefer to keep them in their houses or prefer to hold them in wares.
The commercial banks shares 90% of all cases of malpractices, forgeries and frauds (Wikipedia 2007).
1.2 OBJECTIVES OF THE STUDY
The main objective of the study includes the following.
(1) To access the impact of frauds on banking public and on bank performances.
(2) To identify the causes of bank fraud in Nigeria.
You either get what you want or your money back. T&C Apply
You can find more project topics easily, just search
SIMILAR BANKING FINANCE FINAL YEAR PROJECT RESEARCH TOPICS
1. THE IMPACT OF FINANCIAL DISTRESS IN BANK ON SMALL AND MEDIUM SCALE BUSINESS (A CASE STUDY OF SELECTED SME’S IN ISOKO NORTH LGA)» CHAPTER ONE INTRODUCTION 1.1 BACKGROUND OF THE STUDY The word “distress” has beamed the cost commonly used word not only in financial syst...Continue Reading »
» CHAPTER ONE INTRODUCTION BACKGROUND OF THE STUDY In any developing and developed economy, the role of a well structured financial system cannot be ove...Continue Reading »
» ABSTRACT The cardinal point of this study is to “Assess bank services on economic development of Nigeria. The simple percentage statistical meth...Continue Reading »
» ABSTRACT This research work titled “An Assessment of Loan Defaults and its Impact on Profitability” with special references to Eco Bank Nigeria Pl...Continue Reading »
» CHAPTER ONE INTRODUCTION 1.1 BACKGROUND OF THE STUDY A microfinance institution is a semi formal organization. It can be non government al or communit...Continue Reading »
6. IMPACT OF PERSONNEL OUTSOURCING DECISION ON ORGANIZATIONAL PERFORMANCE OF BANK (A CASE STUDY OF STANBIC IBTC PLC)» ABSTRACT Organizations are more competitive these days .To maintain competitive position, Firms are developing new strategies and introducing new tech...Continue Reading »
» CHAPTER ONE INTRODUCTION 1.1 BACKGROUND TO THE STUDY Effectively functioning financial markets like micro finance banks have fundamental roles to play...Continue Reading »
» ABSTRACT This study assessed the role of Monetary and fiscal policies in regulating financial institution in Nigeria. The main objectives have been to...Continue Reading »
9. THE IMPACT OF REGULATION AND SUPERVISION ON THE ACTIVITIES OF BANKS IN NIGERIA (AN ASSESSMENT OF THE ROLE OF THE CBN AND NDIC)» ABSTRACTThe study is an empirical analysis of the impact of regulation and supervision on the activities of Nigerian banks with emphasis on the role o...Continue Reading »
» CHAPTER ONE INTRODUCTION 1.1 BACKGROUND OF THE STUDY In its broadest terms, fraud means obtaining of something of value through deception. If fraud we...Continue Reading »