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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