Abstract
The purpose of this paper evaluation of fraud and control measures in Nigerian Banking Sector (A case study of three selected banks) is to aim at finding practical means of eliminating, reducing the incidence of fraud in our banking industries and researcher used both primary and secondary source. Questionnaire and interview were administered on a population sample of 75 person made up of both staff and management of First Bank Nigerian Plc, Union Bank of Nigerian Plc and United Bank for African all in Gusau, Zamfara state. The findings derives from respondents indicates that poor internet system not greed is the main course of fraud in the Nigerian Banking and recommendation, and solution of fraud is a means of segregation of duties, were officer that past entry should not be responsible for checking with compulsory annual holiday for all member of the staffs and organization procedure, development of a good organization structure and career opportunity for staff so as to have dedicated loyal staff and contented with force and good training programme is important for staff at all levels. Keywords: Fraud, Control, and Nigerian BanksJEL Classifications: M4, M42DOI: https://doi.org/10.32479/ijefi.8931
Highlights
The level of fraud in the present day Nigeria has assumed an epidemic dimension
The fear now is rife that the increasing wave fraud in the financial institutions in recent years, if not arrested might pose certain threats to stability and survival of individual financial institution and the performance of the industry as a whole and no area of the economy is immured from fraudsters and even the banking system (Abubakar, 2004)
We saw the type of frauds, the cases of frauds, their possible solutions, and the remedies preferred to its detection
Summary
The level of fraud in the present day Nigeria has assumed an epidemic dimension. It has eaten deep into every aspect of our life to the extent that 3-years-old child talks about yahoo mail or 419, newly discovered sobriquet for advanced free fraud that is hunting our banking industry. Fraud takes its roots from the human heart. The fear now is rife that the increasing wave fraud in the financial institutions in recent years, if not arrested might pose certain threats to stability and survival of individual financial institution and the performance of the industry as a whole and no area of the economy is immured from fraudsters and even the banking system (Abubakar, 2004)
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