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Frauds In Nigeria Banks :analysis And Solutions
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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 honesty†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.
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
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.
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.
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ABSRACT - [ Total Page(s): 1 ] 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 ... Continue reading---
