Fraud as a Negative Catalyst in the Nigerian Banking Industry

5170 Words21 Pages
Journal of Emerging Trends in Economics and Management Sciences (JETEMS) 2 (5): 357-363 © Scholarlink Research Institute Journals, 2011 (ISSN: 2141-7024) jetems.scholarlinkresearch.org Journal of Emerging Trends in Economics and Management Sciences (JETEMS) 2(5):357-363 (ISSN:2141-7024) Fraud as a Negative Catalyst in the Nigerian Banking Industry Akindele R.I Department of Management and accounting Obafemi Awolowo University, Ile Ife, Nigeria ___________________________________________________________________________ Abstract Fraud in the Nigerian Banking Industry before the recent merger and acquisition and recapitalisation efforts was at alarming rate. It has caused many banks to collapse, and many investors and depositors funds…show more content…
management staff are in secret leagues with the enemy”. He says that only the measured alertness and The focus of the study is to identify and assess the collaboration of genuine banks together with causes, consequences, detection, prevention and improved supervisory measures from CBN ad NDIC control of fraud in the Nigeria Banking Industry. will terminate such pirate organizations. As it were frauds seem to have increased as new technology is LITERATURE REVIEW AND THEORETICAL born and more advanced techniques of enhancing FRAME WORK business transactions have been developed. Young, (2002) says that, ample evidence exists that Fraudsters are constantly devising new plans, individual integrity of those running the banks today 357 Journal of Emerging Trends in Economics and Management Sciences (JETEMS) 2(5):357-363 (ISSN:2141-7024) has never been at a higher level. Never before have we seen attention to the actual steps; procedures and control of monetary transactions. Employees’ as well as firms in all industries engage in fraudulent practices all over one world. Although the existence of fraud in our banks is not an uncommon or unexpected behaviour, the prevalence ‘of it is what is worrying because of all the various problems confronting the most
Open Document