EFFECFTIVE INTERNAL CONTROL AS THE BASIS FOR PREVENTION AND DEDECTION OF FRUAD IN BANK IN NIGERIA

(A CASE STUDY OF AFRIBANK. PLC ENUGU)

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CHAPTER ONE

• Introduction
  • Background of the study
  • Statement of the problem
  • Purpose of the study
  • Significance of the study
  • Research questions
  • Limitation of the study

 

CHAPTER TWO

• Review of related literal control
  • Organization of internal control
  • What is fraud of in banking industry
  • Sources form and causes of fraud in our banks
  • The effect and danger of fraud in our banks
  • The law relating to and the legal process of protecting fraud in bank
  • Common fraudulent practices
  • Technique of internal control
  • The plan of a typical bank
  • Authorization recording and custody procedures
  • Managerial supervision and review
  • Audit quality control measure
  • The main objectives of audit quality country summary of related review. Literature

 

 

 

CHAPTER THREE

• Research methodology
  • Research design
  • Area of study
  • Population for the study
  • Sample and sampling procedure
  • Instrument for data collection
  • Reliability of reason instrument
  • Validation of research instrument
  • Method administration of research instrument
  • Method of analysis

 

CHAPTER FOUR

4.0     data presentation and results

• Summary of result (Finding)

 

CHAPTER FIVE

• Discussion conclusion and recommendation
  • Discussion of result
  • Conclusion
  • Recommendations
  • Reference
  • Questionnaire

 

 

 

 

 

 

 

 

 

 

 

 

 

LIST OF TABLE

TABLE (4.1) Table showing respondents opinion on effective of internal control at Adri bank

 

Table (4.2) table showing the adequacy of respondents attitude and perception of banking operation and transaction

 

Table (4.3) Table showing respondent opinion on the extent of loan losses and bad debt occurrence in Afr bank

CHAPTER ONE

 

INTRODUCTION

• BACKGROUND OF THE STUDY

Even since the inception of the first three successful indigenous banks in Nigeria, the National Bank of Nigeria established on February 11^th 1933, the Agbommagbe Bank (now wema Bank Nig Plc) in 1945, The African continental Bank Plc in 1947 and others subsequently established in the country  during the period from  1952 when the first banking ordinance was enacted to regulate  and control the activities of commercial banks in the country till present day, prand have remarried a permanent feature in our banking industry.

During the free banking era (between 1892 and 1952) there was no form of banking act or ordinance to regulate the stabilities shipment and operation of commercial bank. There are as it is presently supervised. Many bank were registered. Some of did not open their doors for  business ever for a day while some simply collected customers deposits and varnished. This had resulted to the deprivation of our economy an as a whole the much needs fund for development and  depriving individual the hard earned funds, this also brought about loss of faith trust on the commercial banks by Nigeria and the subsequent under developed banking habit in the country

However, with the introduction of the first banking ordinance in 1952 and the central bank of Nigeria (CBN) ordinance in 1958 to regulate and control the activities of commercial banking in the country fraud in commercial banks have rather increased in size, and method used by fraudster acquires greater  sophistication day by day. Presently with the introduction or modern banking procedures ie improved communication system, automatic electronic gadgets and computers networks into our banking system coupled with various precautionary measures taken by banks. To prevent fraud in the banks fraud have rather taken unclear dimension and the six and form involved increase in a geometric progression. Other Amptiam in his articles obstacle o growth of baking industry saw that it was discovered during investigation that bank now take extra precaution before clearing a cheque because of rampant incident of fraud and forgeries the form of fraud has placed banks loss on the average of # 1m per each working day of the year in Nigeria Asimi kola in his own article “The cash economy phenomenon” also observed that fraud has become sophisticated as to make forget cheque book good the owner to confirm it as his own signature recently in the bid curb the grand fraud, CBN issued a directive to bank to increase it capital base to # 25 billion. Previously section a of the decree 1990 state that, the minimum paid up capital for bank is #50 million for commercial bank. This directive come up after several bank has been discovered to have defrauded it is customers mostly foreign investors. In this required .

Bankers in a bid to reduce the size and rapid occurrence of fraud in their bank now take adequate precautionary measure before clearing cheques drawn their customers accounts. These precautionary measures bring into  focus another problem facing commercial banks,. The problem of time wastage in the banking hall. Ashimi Kola in his article also said that customer waits a minimum of about two hours in banking hall  of Nigeria banks to cash their money. This is one of the  most legitimate criticisms of the quality of  bank services. The checking process is long and by the time a cheque is released to cashier for payment, the customer is frustrated and perhaps Rast asleep among feering crowd. This calls for an overhaul of the checking and control system. E above being the general situation of things in commercial banking fraud is there fore number one enemy to all concerned with growth and development of banks., the intention of this research work therefore aimed at identification of the fraud on Nigerian economy in general and on Afribank Nigeria plc Enugu in particular  and recommend more functional measure that will help in the prevention and to reduction of fraud in commercial bank in Nigeria.

 

• STATEMENT OF PROBLEM

The focus of this study is to provide evidence bearing on the nature and factors leading to ineffective management in bank, also it actually evaluates the uneremental effect of FRUAD and finally shows INTERNAL CONTROL as a basis to prevention and detection of fraud.

 

• INADEQUATE INTERNAL CONTROL SYSTEM

Owing to perculias nature of banks in trading on financial asset and liabilities, there is high  propensity towards fraudulent manipulation by both employees and those outside the bank to install internal control system that will help to eliminate stop and arrest fraudulent tendencies and ensure effectiveness in performance of its functions. It is the  function of the internal control

Unlit to assist management in achieving effective. The  consequences of lack of adequate internal control system in direct and financial term can not be over whelmed. Thus