ABSTRACT
This work
is designed to examine the assessment of the role of the mass media in
anti-corruption campaign. It is organized into five very instructive chapters.
Chapter one deals with the background,
statement of the problems, research questions and hypotheses, assumptions and
limitation of the study among other things. Chapter two is devoted to the
review of relevant materials in the area of study. Chapter three contains the
methodology while chapter four concentrated on data analysis and the results of
the findings. Also chapter five gives a brief summary of the work.
Through these chapters, the objectives
of the study was in that the researcher not only found that the mass media are
indispensable but they are also powerful in their influence.
PROPOSAL
This research was done to bring to light various frauds in
Nigeria
banking system, having analyzed the rate and incidence of fraud, causes, forms
and solutions. However, this research discussed frauds in chapter as follow
Chapter one:
Highlights on the objectives, importance of the study of the causes of frauds,
analysis and solution of frauds, the statement of problem, hypothesis
formations and definition of frauds.
Chapter two:
Deals on the review of literature on frauds in Nigeria banks and foreign banking
system, causes of frauds the effect and preventive measures.
Chapter three:
Reveals the study area as regard to frauds in Nigeria banks, this was done by
employing some sampling methods in the investigation in achieve the aim.
Chapter four:
This gives the overall view of the presentation of data and all the analysis
involved using interview and questionnaire method.
Chapter five:
Discussed the summary, findings recommendation and conclusion
TABLE OF
CONTENT
Cover page
Title page
Certification/approval
Dedication
Acknowledgement
Abstract
Table of
content list of tables
CHAPTER ONE
1.1
INTRODUCTION
1.2 Objective of
the study
1.3 Significance of
the study
1.4 Statement of
study
1.5 Hypothesis
formulation
1.6 Scope and limitations
of the study
1.7 Definition of
terms
CHAPTER TWO
2.1 Review of
related literature
2.2 Causes of
frauds
2.3 Forms
of frauds
2.3.1 Internal
fraud
2.3.2 External
fraud
2.3.3 Combined
fraud
2.4 Types of
frauds
2.5 Effects of
frauds in banking industry
2.6 The legal
framework and fraudulent practice
2.7 Approach to
the minimization of suggestions for the prevention of fraud.
CHAPTER THREE
Research Design
and Methodology
3.1 Study area
3.2 Sampling
Method
3.3 Sources of
Data
3.3.1 Primary
sources
3.3.2 Secondary
Data
3.3.3 Data
treatment techniques.
CHAPTER FOUR
Presentation of
Data and Analysis
4.1
Presentation of Data
4.2 Analysis of
Data
4.3
Interpretation of Results
CHAPTER FIVE
Summary of
findings, Recommendations and Conclusion
5.1 Discussion
of Findings
5.2 Conclusion
5.3
Recommendation
Bibliography
Appendix
CHAPTER ONE
1.1 INTRODUCTION
The
commercial world today has been devastated by random breaches of business
ethics. This has resulted to rampant occurrence of white collar crimes
committed mostly by top and highly educated professional personnel, these
crimes are sometimes euphemistically dubbed, executive dishonesty crimes like
improper waiver of interest on loans, fraudulent false accounting,
falsification, computer fraud, dishonesty, classification of debts as bad debt
or irrecoverable, non-disclosure of vital interest by executive, and other
financial malpractices, fall into this category.
Furthermore, the government has
responded by churning out laws with constant regularity in a bid to meet the
challenges posed by these problems. One of such problems is the incidence of
fraud in financial institutions especially Nigeria banks. This has attracted
at least three major legislation in the past few years. All these relevant
enactments will be examined in this project.
It is a notorious fact that frauds are
mostly masterminded by insiders, at times in concert with outsiders. They are
mostly discovered by tip offs from other staff who feel left out or by
accident. Rarely do normal official checks reveal such earth shattering
fraudulent scams that are big concern of the financial world.
Moreso, there is need to arrive at an
acceptable constitution for the word “fraud†and to deepen our understanding by
paying some respect to the statutory construction of financial institution like
Nigeria banks.
Having dealt with the general
situation of things ion our banking industries, the research work is therefore
aimed at pointing out the major causes of fraud in Nigeria banks etc. effects
on the Nigeria economy commercial world, individuals especially the depositors
(customers of the banks) after the research must have been carried out the
above, the researcher then recommended the measures to be taken in order to
prevent and minimize the incidence of fraud in Nigeria banks. It should be
noted that no bank, big or small is immune
from fraudulent particles. However, bankers should have it as the back
of their minds that dignity and hard work are not the only thing required but
integrity is also required.
1.2 OBJECTIVE OF THE STUDY
The
objective of this study is to enable us know that for any financial institution
like bank to be on the move in respect of growth ion the economy, there is need
to work out possible solutions that can put a stop to fraudulent practices or
bring it to a minimal level
In a nutshell, this project is
designed for the following.
a.
To determine the rate and the extent of fraud in the
banking industry in Nigeria.
b.
To bring to light some of the ceases of fraud in our
banking sectors.
c.
To highlight on the dangers/menace of fraud in Nigeria
banks
d.
To discover the likely procedure that will enable us
determine fraudulent practices nad possible ways of tackling them.
e.
To examine critically the management and government
measures as regards to the possible checking of fraud and preventive measures.
f.
To render some recommendations and suggest possible
solutions on the best way fraud could be brought to a minimal.
1.3 SIGNIFICANCE OF THE STUDY
The study
enhances various examinations of the techniques usually employed by the
fraudsters. It is structured for all classes who may want to invest in banking
industry especially in Nigeria.
Bad performance and incompetent discharge of duty as a result of this
category’s activities (who are employed by the management) when properly
examined will be a contributory to the growth in banking industry. When all
measures are strictly adhered to it would go a long ways in bringing fraud to a
minimal.
The research work is to enable all and
sundry such as: the shareholders, the insurance companies and the management to
benefit, the customers so as to rebuild and reverse the already lost confidence
of the public and the parties involved in the banking industry. This will
enhance rapid growth in the banking industry which will enhance rapid growth in
the banking industry which will in-turn enhance the development of this nation Nigeria
1.4 STATEMENT OF THE STUDY
The banking
industry seems to be s focal point of fraudsters. It is s notorious fact that
frauds are master minded by the banker, at time in concert with outsiders. It
is incredible that bankers whose watch word should be “Transparent honestyâ€
have turned to become looters and by so doing, creating fear in the minds of
the public.
Newspaper pages are jain-picked with
reports ob fraud cases in banking industry, however, most computer frauds cases
like other frauds are not usually reported by banks and this may be due to the
embarrassment it would cause the institution, the loss of public confidence as
well as the difficult of prosecution of such cases.
It is estimates that not less than
average amount of one million naira per working day of the financial year is
made away by fraudsters. The amount lost is quite a set back to our economy.
The management of these respective banks have taken cognizance of these fraud
issues yet they have not worked out a permanent solutions to this problems.
It is so painful that we do not really
know who is trust in the banking industry since they have failed many
depositors, shareholders and a lot of non-bankers have been discouraged from
banking their money because of the fear that the bank may collapse at any time.
They prefer keeping their idle cash with them instead of banking with people
dubious characters.
In other words, frauds frustrate the
banking habit of the society. Fraud leads to stunted growth of banking
industries due to great losses involved it could also hinder commercial growth
fraud deteriorates any nation economy development
1.5 HYPOTHESIS FORMULATION
Hypothesis is a stated assumption made about a population
which must be tested and proved. Hypothesis could be classified into two major
types namely.
(H1)
EXPLANATIONS
Null hypothesis (Ho)
signifies no difference or no relationship exist between two or more alternatives
variable in other words, it is a hypothesis of “no effect†no differenceâ€
Alternative/positive hypothesis (H1)
is the proposition that may be accepted if the stoical null hypothesis is
rejected by the sample evidence.
Let Ho – Null Hypothesis
Hi – Alternative hypothesis.
a.
Ho: Internal and external control system do not reduce
fraudulent practice to the minimal in Nigeria banks.
Hi: Internal
and external control system reduces fraudulent practices to minimal in Nigeria
banks
b.
Ho: Legal control of frauds in Nigeria financial institution
especially commercial banks has no relationship with the minimization of
fraudulent practices.
Hi: Legal
control of frauds in Nigeria
financial institution especially commercial banks has relationship with the minimization
of fraudulent practices.
c.
Ho: The introduction of information technology has no
great impact on banking industry in respect of services and frauds.
Hi: The
introduction of information technology has great impact on banking industry in
respect of services and frauds.
d Ho: Nigeria
deposit insurance Decree of 1988 (NDIC) has no power to make regulations
guiding specific items with respect to the day to day management of the
regulated institutions like the commercial banks.
Hi: Nigeria
deposit insurance Decree of 1988 (NDIC) has power to make regulations guiding
specific items with regulation to the day to day management of the regulated
institutions like the commercial banks.
1.6 SCOPE AND LIMITATION OF THE STUDY
In whatever
step one takes or makes in life there is the possibility of obstruction or
oppositions right there at the corner raising its head against every step made.
That is why this study will not be left out in encountering problems in trying
to achieve success. Some of these problems includes
Lack of corporations and no response
from the commercial banks executives as regards to the information needed from
them. They were very conservative in terms of giving out information in respect
of fraud which may not expose most of the fraudulent practices. This they claim
is done to protect the image of the bank some of these banks said that non of
their branches has ever been involved in fraudulent act. Again thyme factor was
another problem which is worthy of note. The bank / visited in Ogwashi – uku in
Delta state (First bank of Nigeria PLC) was unable to supply me with enough
information because of time constraint. Time again was not on my side because
of the semester academic exercise I decided to utilize the available
information I have for this research. Another pressing problem was that of
finance, for this study to be in full swing money is needed to carry on the
research effectively. Some items of which money was required were:
Transportation in search of resources materials, making of photocopies of
materials especially bulky and voluminous ones and the production of the
project itself
1.7 DEFINITION OF TERMS
In explaining fraud as an element of
some other officers, the criminal code ascribes it as a situation correlation
with deceit. But a workable definition can be traced to the Osborne’s concise
law Dictionary (6th edition). Thus fraud can be seen as the
obtaining of material advantage by unfair or wrong means. This may be either by
way of abuse of entrusted reasonability by convert of overt deceit. In a liberal sense fraud may be used
as an umbrella term to cover almost all classes of white collar crimes known to
law and business.
Fraud can also be defined as one type
of irregularity. It is usually reflect to irregularities involving the use of
criminal deception to obtain unjust or illegal advantages (by Okorie Onovo,
ACAS, understanding Auditing and Investigation.)
Fraud can also said to be conscious
premeditated action of a gang of persons with the intention of altering the
truth or fact for selfish personal monetary reward. This involves the use of
deceit and tricks and sometime highly
intelligent or cunning methods. This action usually takes the form of signing
of documents and authorizing signature outright theft. (by Adeewumi 1986)
There are so many definitions of fraud
but the researcher decided to present just three definitions. All definitions
seemed to be correct but the former that of that of Osborne’s concise law
Dictionary (6th Edition|) contains elements of frauds appropriately
and adequately for the purpose of this research work.
These tow impact element are
That for a fraud to take place, there
must be obtaining of material advantage wrongly
There must be abuse of entrusted
responsibility or convert of overt deceit that means that in this case a party
is exposed to losses while the other part gains
It will be of great importance to
briefly mention on the occurrence of fraud to answer the question WHEN DOES
FRAUD ARISE?
Fraud arises when a person in a
position of trust and responsibility breaks the rule and regulations to advance
his personal interest at expense of the public interest he has been entrusted
to guard and promote. It also arises when a person through deceit trick or
highly intelligent curing gains an advantage he could not otherwise have gained
through lawful, just or normal process.
Fraud is a mater of individual choice
and opportunity. As human beings the individual takes the advantage if there is
opportunity and possible means of getting away with it.
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