FRAUD AND FORGERY IN THE NIGERIAN BANKING INDUSTRY

FRAUD AND FORGERY IN THE NIGERIAN BANKING INDUSTRY

Abstract
The objective of the research was to determine the rank and category of bank staff
involved in frauds and forgeries, determine the positive reason(s) responsible for such
involvement, examine the level/extent of involvement and finally proffer solutions and
recommendations towards reducing the high incidence of fraud/forgery cases in the
banking industry.
In the research both primary and secondary data were utilised likewise primary and
secondary sources of gathering relevant information. A detail analysis of the data
collected is carried. Based on two hypothesis analyzed and tested, the Null hypothesis was
rejected in the first case and alternative hypothesis was accepted. But in second case, the
Null hypothesis was accepted while the alternative hypothesis was rejected.
Lots of other factors responsible for frauds/forgeries in the banking industry were also
from analysis obtained in the questionnaires, for example the issue of frustrations, poor
incentives, leaving irresponsible life, delay in transfer and promotion etc; were among
those factors.
Suggestions and recommendations for more effective and reliable measures to
combat frauds and forgeries were put forward to the Bank Management to implement.
Federal Government through Apex Bank was also advised not to relent effort in trying to
bring sanity into banking industry.
Based on the findings, it was recommended that the authorised capital of the banks
should be increased to prevent the entry of mushroom banks into the banking system.
Banks internal audit and inspection departments should be strengthened to deal effectively
with the menace, these departments should be manned by qualified and experienced staff.
Also it may be necessary to train a special squad in the Federal Investigation and Intelligent Bureau (FIIB) of the Nigerian Police to deal with the frauds in the banking systems.
Additionally, a speedy implementation of Decree No. 18 of 1994 would go a long
way in arresting the situation.

TABLE OF CONTENT

Title page- – – – – – – – – i
Approval page – – – – – – – -ii
Dedication – – – – – – – – -iii
Acknowledgement – – – – – – – -iv
Abstract – – – – – – – – – -v
Table of content – – – – – – – -vi

CHAPTER ONE
INTRODUCTION – – – – – – – -1
1.0 Background of the study – – – – -1
1.1 Statement of the problem – – – – -5
1.2 Purpose of the study – – – – – -6
1.3 Significance of the study – – – – -8
1.4 Research questions – – – – – -9
1.5 Scope of the study – – – – – – -10

CHAPTER TWO

LITERATURE REVIEW – – – – – – -11

CHAPTER THREE

Research methodology – – – – – – -39
Design of study – – – – – – – -40

CHAPTER FOUR

Presentation, analysis and interpretation of data – -48

CHAPTER FIVE

Summary of findings – – – – – – -60
Conclusion – – – – – – – – -61
Recommendations – – – – – – – -62
Suggestions for further research – – – – -64
References – – – – – – – – -65
Appendix I – – – – — – – – -68
Questionnaire. – – – – – – – -69

1. FRAUD AND FORGERY IN THE NIGERIAN BANKING INDUSTRY

Sharing is caring!