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FRAUD PREVENTION AND NATIONAL DEVELOPMENT IN NIGERIA: A STUDY OF ECONOMIC FINANCIAL CRIME COMMISSION, (EFCC) 2014-2020

Dept: PUBLIC ADMINISTRATION File: Word(doc) Chapters: 1-5 Views: 2

Abstract

This research is concerned with fraud prevention and national development with economic financial crimes commission as a study. The study will examine different nature of organization and explore the type of fraud that exist in those organization, and find out the effective measures to control and prevent them for effective governance and administration in Nigeria. Data was obtained by primary and secondary sources which are the use of oral investigations technique, library research, and questionnaire were formulated and given to a sample population. Their opinions were analyzed using simple percentage method. Based on the analysis, the research discovered that public servant is involved in fraud in Nigeria. Also economic and financial crime commission are also involved in the prevention of fraud in Nigeria. base on the above findings, the researcher recommended that there must be room for internal and organizations, also government officials should acquired necessary skills for their

 1.1    BACKGROUND TO THE STUDY

Fraud has rooted deep into the heart of the nation. This fraud has been so much in government organizations than the private organizations or institutions.

Causes of fraud in the public sector are so pronounced that every segment of the public service could seen to be involved in one way or the other in some of these nasty acts. This assertion is not difficult to appreciate if we accept and adopt the simple definition of fraud as any deliberate false act aimed at deceiving or harming any party, individual or corporate body in any manner.

Huge amounts of money is lost through fraud or due to internal control inadequacies and other criminal temptations which drains the nations resources which brought about consequences on the development or socio- economic or political programmes  of the nations . In every organizational system there are aims, goals and objective mapped out for organizational efficiency by the management. So the staff has to put more efforts in order to achieve the aims. Therefore good financial management, human and materials resources and proper accountability has to be kept for effectiveness and efficiency administration for the nation.

Ola (1979) also noted that the need for public financial accountability has led all

4 Audit control, by providing internal auditors.

5 Administrative control by the superior officer. All these above mentioned measure s can help to prevent and control fraud in government organizations.

 

• Statement Of The Problem

It is obvious that fraud in government organizations in Nigeria has increased tremendously. This is because, Nigeria is always seen focusing their interest on personal gain rather than the gain the masses. The Nigerian public see government business as nobody business; leaders in Nigeria see their privilege as a God giving opportunity to take their own share of national cake. Nigeria believe that if you hold any top government position or office and you retire or come out without being a wealthy person, such retire is a failure, use less and hopeless person. It has been noted that fraud prevention is very difficult in Nigeria because corruption/fraud started form the leaders, the main thing Nigerians need in order to fight fraud and corruption is leadership by example that is leaders in practice and mot in principle.

1.3     Research Questions

1         To what extent has fraud  affected national development?

1. To what extent has EFCC helped to checkmate fraudulent activities in Nigeria?
2. To what extent has fraud affected national economic development?

 

1.4     Purpose Of The Study

1        To examine the extent at which fraud affected material development.

• To investigation the extent at which EFCC has helpful to checkmate fraudulent activities in Nigeria.

1. To find out the extent at which fraud has affected the national economic development in Nigeria and the remedies.

 

1.5 Significance Of The Study

This study will help Nigerians government to know the best measure to prevent and control fraud. By equipping EFC with managerial and technical skill which all help them to control fraud.

It will also help the managers and directors of government and private organizations to map out strategies to prevent and control fraud for efficiency in various organizations.

1.6 Scope Of The Study

This research work covers fraud prevention and national development in Nigeria with references of Economic and financial crimes commission (EFCC).

 

1.7 Limitation Of The Study

Fraud prevention and national development is not taken very serious in developing countries like Nigeria. Unlike the advanced countries, for this purpose, good research materials are not easily obtained by the researcher and if obtained they hardly give reliable information on prevention and control of fraud; this creates a problems or invitation to the researchers works.

In  the aspect of questionnaires distribution and collection, the researcher faces a lot of financial problem in designing a good questionnaire even when the succeeds in this distribution of questionnaire.

Sometimes, it is very difficult to meet the people who will give him the required information in their offices. This case is the same when he wants to collect the questionnaires he distributed. This poses a limitation to the research study.

 

 

1.8 Definition Of Terms

1 Fraud: Mani (1993) defined fraud as involving the use of deception to obtained an unjust or illegal financial advantages, international misstatement in or omission of amount or disclosure from an entity’s accounting record or financial statements.

2 Embezzlement: The oxford advanced learners dictionary defined embezzlement as the act of stealing money that you are responsible for or that belongs to your employer.

Corruption: The oxford advanced learners dictionary defined corruption as dishonest or illegal behaviors, especially of people In authority.

Administrative: it’s relating to administration or an administration : relating to the management of a company, school, or other organization

Leadership: It is the art of influencing people that they get to strive willingly towards the achievement of a certain set goals.

Administration: This is the direction, co-ordination and control of many persons to achieve some objective.

National Development: This is the ability of a country to improve the social welfare of the people e.g. providing social amenities like quality education, potable water, transportation, medical care etc.

Development: This refers to a change process geared at improving or making better the life and environment of man.

Political Power

By the concept of power, it means the capacity to overcome part or all the resistance to introduce changes in the face of opposition and this includes sustaining a course of action or preserving a status quo that would otherwise have been discontinued. The concept of political power or powerlessness is applicable when the capacity to overcome resistance is related to the control of public policy.

 

1.9 Organization Of The Study

This research work introduces the chapter one, statement of problem and describes the specific problem addressed in the study as well as design components. Chapter two present a review of literature and relevant research associated with the problem addressed in the study. Chapter three presents the methodology and procedures used for data collection and analysis. Chapter four contains an analysis of the data and presentation of the results. And the last, chapter five offers a summary and discussion of the researchers finding’s implication for practices, and recommendations for future research.