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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
FRAUD AND FORGERY IN THE NIGERIAN BANKING INDUSTRY
