EVALUATING THE EFFECTIVENESS OF INTERNAL CONTROL AS A TOOL OF FRAUD PREVENTION AND DETECTION IN NIGERIAN BANKS

ABSTRACT
The need for the internal control
systems in the organisations, especially banks cannot be undermined, due to the
fact that the banking sector, which has a crucial role to play in the economic
development of a nation is now being characterized by macro economic
instability, slow growth in real economic activities, corruption and the risk
of fraud. Fraud, which is the major reason for setting up on internal control
system, has become a great pain in the neck of many Nigerian banks managers.
Data were collected through the use
of primary and secondary source. Theses include the interviewed, place visited,
documents scrutinized, operations observed etc, as earlier stated, the primary
objective of the research is to examine; why bank frauds are perpetuated. The
perpetrators of bank fraud and measure of preventing, detecting and controlling
bank fraud. Therefore all the methods of data collection, the nature and
population of data collected, all land credence to the attainment of the
objective hence, as much as possible, all relevant data a
Based on the findings on the project
work, the recommendation would help to eliminate the problem that is
encountered by the Nigerian Banks which ensures that strict compliance with the
internal control system to prevent and detect the bank.



TABLE OF CONTENTS
Title                                                                                         i
Certification                                                                             iii
Dedication                                                                               iv
Acknowledgements                                                                 v
Abstract                                                                                  vii
Table of Content                                                                      ix     
CHAPTER ONE
1.0           
          Introduction                                                                            1
1.1     Background to
the Study                                                        1
1.2     Statement of the
Problem                                                        5
1.3     Objectives of
the Study                                                  5
1.4     Significance of
the Study                                               6
1.5     Research
Questions/Hypothesis                                    7
1.6     Research
Methodology                                                  8
1.7     Scope and
Limitation of the Study                                9
1.8  Definition
of Terms                                                                   10
1.9     Organisation of
the Study                                              12
End of Chapter References                                            14
CHAPTER TWO
2.0     Literature
Review                                                                    15
2.1           
Conceptual
Explanations                                                        17
2.2     Theoretical
Framework in Nigerian Banks.                             22
2.2.1  Types of Frauds
in the Nigeria
Banks                                     23
2.3     Recent Theories
on Prevention of Bank Frauds             26
2.3.1  Fraud Detection                                                             28
2.4     Review on the
Method of Improving Banks Performance       32
2.4.1  Savings Account                                                            33
2.4.2  Current Account                                                            34
End of Chapter References                                            36
CHAPTER THREE
3.0     Research
Methodology                                                  38
3.1     Research Focus                                                              38
3.2     Research Instruments
                                                   38
3.3     Restatement of
Research Questions/Hypotheses           40
3.4     Description
of the Population and Sample of the Study         41
3.5     Source of Data
Collection                                              42
3.6     Description
of Questionnaire                                         43
3.7     Methods
of Data Analysis and Description
of Tools of Analysis                                                      44
End of Chapter References                                            46
CHAPTER FOUR
4.0        
Data
Analysis Interpretation and Discussion on Findings   47
4.1     Interpretation of
Items                                                  
47
4.2     Analysis of Data
                                                           48
4.3     Analysis of
Tables                                                                   52
4.4     Test of Hypothesis                                                        54
End of Chapter References                                            59
CHAPTER FIVE
5.0        
Summary,
Conclusion, Recommendations
and Suggestions For
Further Studies                                      60
5.1     Summary                                                                       60
5.2     Conclusion                                                                             62
5.3     Recommendations                                                                   63
5.4     Suggestions for
Further Studies                                     66
End of Chapter References                                            67
Bibliography                                                                  68
Appendices. (Questionnaire)                                         70
CHAPTER ONE
2.0           
          INTRODUCTION
1.1     BACKGROUND TO THE STUDY

Bello
(2001) it is feared that inability of banking management to ensure effective
enforcement of rules and reg

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