TITLE:               

FRAUD AND PERFORMANCE OF BANKING INDUSTRY: EMPIRICAL EVIDENCE FROM NIGERIA

 AUTHORS:     

Abolade Francis Akintola, Oluwafemi Oluwatosin Adefala, Abimbola Ayodeji Cole, Emmanuel Adewale Ogunlalu, Ijeoma Jacklin Ogundiwin, Olugbenga Gideon Olanrewaju

DOI:  10.5281/zenodo.14781407

 Page:   31-46   Vol: 20    Issue: 01  Year: 2025

creative commons, cc, character-785334.jpg   

ABSTRACT

Fraud and performance of the banking industry in Nigeria has been a topical issue in recent times. The occasional failure of banks and the multiplier effects of banks failure on the economy has been a major concern to the government and monetary authorities. Therefore, this study examined fraud and performance of the banking industry in Nigeria from 2012 to 2023. The study adopted ex-post facto research design using data obtained from both Central Bank of Nigeria (CBN) statistical bulletin and Nigerian Deposit Insurance Corporation (NDIC) annual reports. Ordinary Least Square (OLS) regression was used in analyzing the relevant data via the use of E-view software. Findings from the study showed that performance of the banking industry in Nigeria was influenced significantly by number of fraudulent cases, number of staff involved and total amount of money involved. It was recommended that government in Nigeria and in other part of the world should put in place a good regulatory system while banks management should put a strong internal control system in place.

 Keywords:

Banks, Fraud, Internal control, Nigeria, Performance

Received: 17 December 2024

Accepted: 22 January 2025

Published: 31 January 2025