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Bank Fraud And It Effect On Bank Performance In Nigeria
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Fraud is an epidemic dimension that has eaten deep into the banking sector as well as the entire economy. Itsdevastating effect manifests itself in the deteriorating balance sheet of banks as well as in economic backwardness. As a result, measures to eradicate fraud in 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 the effect of fraud on performance of banks. Data for the analyses were obtained from primary data through questionnaires and secondary data from Nigeria Deposit Insurance Corporation (NDIC) Annual Report. Four hypotheses were formulated to access the impact of looting of fund, social and environmental factors, motivation and government effort on effect of fraud on banks performance in Nigeria.
These were tested with simple percentages and chi-square (x2) statistical technique at 5% significance level. Results showed that lack of adequate motivation is not a major cause of fraud in banks, looting of fund 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 negative impact on bank fraud.
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CHAPTER ONE - [ Total Page(s): 2 ]1.1 Background of the studyThe level of fraud in the present day Nigeria has been on the high side. It has eaten into every aspect of our life and economy to the extent that a three years old child talks about Advance Fee Fraud Scheme (419). The economy has faced several challenges today as a result of the billions of naira that have been lost due to the ugly Monster (fraud). The term “fraud” has been defined in different ways by different authors. For the purpose of this study, fraud c ... Continue reading---
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CHAPTER ONE - [ Total Page(s): 2 ]1.1 Background of the studyThe level of fraud in the present day Nigeria has been on the high side. It has eaten into every aspect of our life and economy to the extent that a three years old child talks about Advance Fee Fraud Scheme (419). The economy has faced several challenges today as a result of the billions of naira that have been lost due to the ugly Monster (fraud). The term “fraud” has been defined in different ways by different authors. For the purpose of this study, fraud c ... Continue reading---
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