FRAUDULENT PRACTICES IN THE BANKING INDUSTRY: ITS IMPACT ON ECONOMIC GROWTH IN NIGERIA (2005-2017)

ABSTRACT

This study was set to investigate various forms of fraudulent practices in the banking industry:its impact on  economic growth in Nigeria, the study seek to examine the effect of amount lost to fraud on Nigeria economic growth and to also examine the effect of number of fraud cases on Nigeria economic growth covering the period between 2005-2017, the main instrument for data collection is through secondary source in which the data were extracted from the statistical bulletin of Central Bank of Nigeria (CBN). The collected data were analysed using inferencial statistics i.e Ordinary Least Square (OLS) regression analysis. Findings revealed that both amount lost to fraud and number of fraud cases have significant impact on economic growth in Nigeria between the periods under study. The research work recommended that banks need to strengthen their internal control system and the regulatory bodies should improve their supervisory role in order to check and curtail the incidence of fraud and fraudulent activities of banks and also relevant institutions established to fight fraud should ensure the enforcement of various legal provisions in the fight against fraud and it effect on economic growth in Nigeria.

TABLE OF CONTENTS                                                  PAGES

TITLE PAGE…………………………………………………………........i

CERTIFICATION ………………………………………………………...ii

DEDICATION…………………………………………………………….iii

ACKNOWLEDGEMENT…………………………………………………iv

ABSTRACT……………………………………………………………….v

TABLE OF CONTENTS ………………………………….……………..vi-viii

CHAPTER ONE

1.0INTRODUCTION

1.1Background to the Study……………………………………….1-3

1.2Statement of the Problem…… ………………………………....3-4

1.3Research Objectives ………………………………………….....4

1.4Research Questions ……………………………………………..4

1.5Research Hypotheses……………………………………………4

1.6Scope of the Study………………………………………………4

1.7Significance of the Study ………………………………………4-5

1.8Definition of terms……………………………………….............5

1.9Organization of the Study ……………………………………….5-6

CHAPTER TWO

2.0LITERATURE REVIEW

2.1Conceptual Review…………………………………..................7-10

2.1.1Types of Fraud …………………………………………….…...10-13

2.1.2Factors that Account for the Causes of Fraud……………........14

2.1.3Effect of Fraud …………………………………………………15-16

2.1.4Controls of Fraud………………………………………............16-17

2.1.5Fraud Identification…………………………………………….17-18

2.1.6Fraud Prevention and Detection……………………………….18-19

2.2.0Theoritical Review……………………………………………..20-22

2.3.0Empirical Review of Related Literature ………………………22-24

CHAPTER THREE

3.0RESEARCH METHODOLOGY

3.1Method of Data Collection………………………………...............25

3.2Method of Data Analysis…………………………………………..25

3.3Model Specification………………………………………………..25-26

CHAPTER FOUR

4.0DATA PRESENTATION AND INTERPRETATION OF RESULTS

4.1Data Presentation………………………………………………….27

4.2Data Analysis and Discussion of Finding………………………....27-31

CHAPTER FIVE

5.0SUMMARY, CONCLUSION AND RECOMMENDATIONS

5.1Summary…………………………………………………………….32

5.2Conclusion…………………………………………….......................32-33

5.3Recommendations…………………………………………………....33

REFERENCES …………………………………………………….34-35

APPENDIX ………………………………………………………….36