The effect of fraud in Nigerian banking sector Department: Banking and Finance By: cleodolph16 Project ID: 3083 Rating: (3.2) votes: 11Rate this project12345 Price:₦5000 Get the Complete MaterialAbstractThis study looks at the effect of fraud in the Nigerian banking sector. Fraud has eaten deep into the banking sector in Nigeria, as well as the entire economy. Its devastating effect manifests itself in the deteriorating balance sheet of banks as well as in economic backwardness. As a result, measures to eradicate fraud in the banking sector become a central focus of the government and the monetary authorities. It was against this backdrop that this study was aimed at providing empirical evidence on bank fraud and its effect on the Nigerian economy. Data for the analyses were obtained from primary data through questionnaires and secondary data from Nigeria Deposit Insurance Corporation (NDIC) Annual Report. Four research questions were formulated to access the impact of looting of funds, social and environmental factors, motivation and government effort on bank fraud and its effect on Nigeria economy. These were tested with simple percentages and statistical techniques. Results showed that lack of adequate motivation is not a major cause of fraud in banks, looting of funds by bank managers and directors constitutes the major form of fraud in Nigeria, government effort and its agencies have negatively impacted on combating fraud in Nigeria and environmental or social factors have a negative impact on bank fraud. On the basis of findings, it is recommended that the government should make its impact to be felt in combating fraud by establishing more agencies for combating frauds. Those managers and directors involved in the looting of funds should be persecuted to serve as a deterrent to subsequently once. In addition, bank staff should be properly screened to test their morality and integrity before recruitment. ...Preview Download Preview +Other Banking and Finance project topics and materials you might be interested in»The role of central bank of Nigeria (CBN) in the development of Nigeria financial sector»Appraisal of the economic implication of electronic banking in Nigerian banks (A case study of diamond bank)»The impact of strategic planning on banks performance in Nigeria (A case study of united bank for Africa plc)»Evaluation of the impact of liquidity management on banks performance in Nigeria ( A case study of UBA )»The roles of central bank of Nigeria in the prevention of bank failure or liquidation (A case study of central bank of Nigeria 2005-2009)»The role of financial institutions in promoting banking habit and saving capital formation in Nigeria»The effect of electronic banking on fraud reduction in bank (A case study of access bank plc)»The effectiveness of monetary policy measures in controlling inflation in Nigeria»Problems and challenges facing finance houses in the Nigerian economy ( A case study of mortgage bank owerri )»The role of deposit money bank in Nigeria in economy development in Nigeria - a case study of Access Bank Plc»Motivation as a way of reducing fraud in banking industry ( A case study of UBA and Fidelity bank )»The impact of insurance industry on the economic growth of Nigeria (A case study of nicon and hallmark insurance companies 2005-2009)»Identification and management of bad debts in Nigeria commercial banks(A case study of UBA plc)»The contribution and effect of computer to modern day banking in Nigeria (A case study of zenith bank and first bank plc)»The use of accounting information in assessing control and performance in an organization (A case study of first bank of Nigeria owerri)