INTERNAL CONTROL SYSTEM AS A MEANS OF PREVENTING FRAUD IN NIGERIA FINANCIAL INSTITUTION (A CASE STUDY OF FIRST BANK OF NIGERIA PLC ONITSHA)

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ABSTRACT

This research work was the infernal control system as a means of preventing fraud in Nigeria financial institution. However for a more defiled study was carried on First Bank Nigeria Plc Onitsha Head Office.

This study was necessary because of the increasing wave of Bank fraud in Nigeria in resent times as reported by the Niger dailies. Therefore the need to investigate these reports and if confirmed, a financial institution and to what extend the application of an effective internal control system can go to help matter.

All aspect of this work is very relevant in one way or the other to the Nigerian Banking Industries, as a whole, and for those who may be interested in carrying out further study in this topic.

Also data were collected through primary and secondary sources, the primary sources of data are mainly through personal interviews and of questionnaires, while the secondary source include Books, Newspapers, Magazines.

From my finding it was ascertained that Banks have the best internal control system in Nigeria. The internal system is both adequate and effective, although more operating improvement and review is vital. The management of the bank should be at alert so as to chose any loophole that may arise in their inferview control system.

Also, it was discovered that the major cause of fraud is the employment of dishonest staff. Therefore staff quality like intergrity should be ascertained before employment. There should be an increased enlightens on the legal implications of fraud among other.

TABLE OF CONTENT

Title page

Certification

Dedication

Acknowledgement

Abstract

Table of content

CHAPTER ONE

1.0Introduction

1.1Purpose of the study

1.2Significance of the study

1.3Scope of the study

1.4Limitations of the study

1.5Definition of terms

CHAPTER TWO

2.0Review of related literature

2.1Definition of fraud

2.2Types and causes of bank fraud

2.3Concept and definition of internal control

2.4Type of control

2.5Internal control system in financial institution (FIRST BANK PLC)

Reference/Note

CHAPTER THREE

3.0Summary of Finding, Conclusion and Recommendation

3.1Finding

3.2Conclusion

3.3Recommendation

Bibliography

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INTERNAL CONTROL SYSTEM AS A MEANS OF PREVENTING FRAUD IN NIGERIA FINANCIAL INSTITUTION (A CASE STUDY OF FIRST BANK OF NIGERIA PLC ONITSHA)

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