ABSTRACT
Commercial Banks occupy an
indispensable position in the Nigeria economy. They are the picot upon which
other business firms and other activities revolve and “a conduit pipe through
which all financial transactions pass”. However, literature in the field shows
that fraud and other financial malpractice in the Nigeria Banking system nearly
always lead to loss of monies that ordinarily belong to someone other than
banks. In every bank cases where frauds with crippling frequency and in large
sizes such banks may be forced to close down or outright distress as a result.
When the commercial Banks lose money and it is wound up or distressed in turn
the customers and the nation in general loses of money, which also affects the
economy. These study, therefore investigate the various levels of fraud in our
Nigerian banking system. To this end a hypothesis was tested and confirmed that
fraud not only drain the economy, but also lead to a lost of confidence by
foreign investors.
CHAPTER ONE
INTRODUCTION
1.1
BACKGROUND OF THE STUDY
Fraud
however is defined as the intentional distortion of the financial statements to
secure particular advantages such as the misappropriation of assets. The term
fraud is used when it refers to irregularities involving the criminal deception
to obtain an illegal or unjust advantage.
Fraud is
defined in many perspectives, but basically it is the obtaining of material
advantage by unfair or wrongful means, which involves moral obliquely. Banking
fraud and other financial malpractices is a conscious or deliberate effort
aimed at obtaining unlawful financial advantage to the detriment of another
person who is the rightful owner of the fund.
The
Nigerian financial system then was composed of the commercial Banks, Merchant
Banks, Development Banks which comprises Nigerian Industrial Development Bank,
Nigeria Bank for commerce and industry, Nigerian Agriculture and co-operative
Bank, Federal Mortgage Bank of Nigeria, federal
Gap thesis
where they bridge the financial needs of the economy and the fund supply
through short and long term loans for indigenous projects and other
investments.
Exigency
thesis; where especially the Development Banks help to indigenize the economy
through provision of fund to purchase foreign interest in the economy. Catalyst
thesis; the economy is a predominantly mono-product which depends on oil for
its foreign exchange earnings. It helps to speed up diversification in the
economy.
It is good
to emphasize and exercise the need of utmost good faith in the Nigerian Banking
system. There must be understanding of what fraud is as against what it is not,
fraud must be demystified unveiled and conquered. There must be understanding
of the causes, negligence, lack of training, poor....
================================================================
Item Type: Project Material | Attribute: 113 pages | Chapters: 1-5
Format: MS Word | Price: N3,000 | Delivery: Within 30Mins.
================================================================
No comments:
Post a Comment