FRAUD AND FINANCIAL MALPRACTICES AS A LENDING FACTOR TO BUSINESS FAILURE
(A CASE STUDY OF NIGERIAN TELECOMMUNICATION LIMITED (NITEL)
COMPLETE PROJECT MATERIAL COST 5000 NAIRA OR $10 ,
. A FRESH TOPIC NOT LISTED ON OUR WEBSITE COST 50,000 NAIRA ( UNDERGRADUATE) OR 100,000 FOR SECOND DEGREE STUDENTS. $500. PLUS FREE SUPPORT UNTIL YOU FINISH YOUR PROJECT WORK. CONTACT US TODAY, WE MAKE A DIFFERENT. DESIGN AND WRITING IS OUR SKILLED. DESIGN AND WRITING IS OUR SKILLED.
Note: our case study can be change to suit your desire location . we are here for your success.
ORDER NOW
Account Name : Chi E-Concept Int’l
ACCOUNT NUMBER: 0115939447
Account Name: Chi E-Concept Int’l
Account Name: 3059320631
Foreign Transaction For Dollars Payment :
Bank Name: GTBank
Branch Location: Enugu State,Nigeria.
Account Name: Chi E-Concept Int’l
Account Number: 0117780667.
Swift Code: GTBINGLA
Dollar conversion rate for Naira is 175 per dollar.
ATM CARD: YOU CAN ALSO MAKE PAYMENT USING YOUR ATM CARD OR ONLINE TRANSFER. PLEASE CONTACT YOUR BANKER SECURITY GUIDE ON HOW TO TRANSFER MONEY TO OTHER BANKS USING YOUR ATM CARD. ATM CARD OR ONLINE BANK TRANSFER IS FASTER FOR QUICK DELIVERY TO YOUR EMAIL . OUR MARKETER WILL RESPOND TO YOU ANY TIME OF THE DAY. WE SUPPORT CBN CASHLESS SOCIETY.
OR
PAY ONLINE USING YOUR ATM CARD. IT IS SECURED AND RELIABLE.
form>DELIVERY PERIOD FOR BANK PAYMENT IS LESS THAN 2 HOURS
How to transfer from your bank account to All Nigeria banks without internet
1. Access Bank:
—-*901#
2. EcoBank:
—-*326#
3. Fidelity Bank:
—-*770#
4. FCMB:
—-*389*214#
5. First Bank
—-*894#
6. GTB:
—-*737#
7. Heritage Bank:
—-*322*030#
8. Keystone Bank:
—-*322*082#
9. Sky Bank:
—-*389*076*1#
10. Stanbic IBTC:
—-*909#
11. Sterling Bank:
—-*822#
12. UBA:
—-*389*033*1#
13. Unity Bank:
—-*322*215#
14. Zenith Bank:
—-*966#
15. Diamond Bank
—-*710*555#
To know your BVN, dial
—-*565*0#.
E.g for First bank… *894 *Amount *Acct. No. #
Please dail d code from d number u used to register d account from the bank
CALL OKEKE CHIDI C ON : 08074466939,08063386834.
AFTER PAYMENT SEND YOUR PAYMENT DETAILS TO
08074466939 or 08063386834, YOUR PROJECT TITLE YOU WANT US TO SEND TO YOU, AMOUNT PAID, DEPOSITOR NAME, UR EMAIL ADDRESS,PAYMENT DATE. YOU WILL RECEIVE YOUR MATERIAL IN LESS THAN 2 HOURS ONCE WILL CONFIRM YOUR PAYMENT.
WE HAVE SECURITY IN OUR BUSINESS.
MONEY BACK GUARANTEE
Click here to download our android mobile app to your phone for more materials and others
ABSTRACT
The study is concerned with an investigation into fraud and financial malpractices as a leading factor in business failure and eventual liquidation.
A case study of Nigerian Telecommunication Limited (NITEL).
By way of background, the study commenced with an overview of the business environments and its effects on business growth and survival.
Using NITEL as a case study, it was established that inspite of its privatization, NITEL is still saddled with the problem of bad image arising mostly from fraudulent practices.
With the above stated problem, the specific objectives of the study were:
- To ascertain why NITEL Plc is still saddled with problem.
- To determine whether there is significant weakness in NITEL internal control system.
Data collected were analysed using weighted mean and ranking order. Major findings of the study were:
(i) The study revealed that the NITEL is unable to achieve its objective
(ii) It was also revealed that fraud and financial malpractices was the most important factors that has contributed poor performance of NITEL.
At the end, the following recommendation were made:
(i) NITEL management should design appropriate policies.
(ii) The organisation should also strengthened its internal control system.
LIST OF TABLE
- Sample size determination and allocation of questionnaire
- Factors responsible for non-achievement of objectives by NITEL
- Factors responsible for fraudulent malpractices in NITEL
- Factors in effective internal control system in NITEL
- Impact assessment of factors in fraud elimination / minimization
TABLE OF CONTENTS
Title page ii
Approval page iii
Dedication iv
Acknowledgement v
Abstract vi
List of table viii
Table of content ix
CHAPTER ONE
Introduction 1
- Background of study 1
- Statement of problem 4
- The purpose of study 5
- Scope of study 6
- Research question 6
- Significance of the study 7
CHAPTER TWO
Review Of Literature 9
- Definition of distress/failures of a corporate 9
- Causes of business failure 12
- Summary of related reviewed literature 29
CHAPTER THREE
Research design and Methodology 30
- Research design 30
- Area of study 30
- Population of the study 30
- Sample size and sampling procedure 31
- Instruments for data collection 34
- Validity of the instrument 34
- Reliability of the instrument 35
- Method of administration of the research instrument 35
- Method of data analysis 36
CHAPTER FOUR
Data Presentation And Results 37
4.1 Research question 1 37
4.2 Research question 2 40
4.3 Research question 3 42
4.4 Research question 4 45
4.5 Summary of findings 47
CHAPTER FIVE
Discussion Of Results, Conclusion, Implication Of Findings 49
- Discussion of findings 49
- Conclusions 51
- Implications of the study 52
- Recommendations 52
- Suggestions for further studies 53
- Limitation of the study 54
References 55
Appendix 57
CHAPTER ONE
INTRODUCATION
- BACKGROUND OF THE STUDY
Fraud is irregularities involving the use of criminal to obtain and against illegal advantage.
Fraud involving the manipulation of the record and the accounts, usually by the company’s senior officers, with a view to benefiting in some way from the false picture which they convey (eg obtaining finance under false pretences, or concealing a material worsten of the company’s true position)
Frauds, usually by employees, involving the theft, misappropriation or embezzlement of the companys funds, usually in the form of cash, or of its other assets (such as good held in a warehouse).
Fraud and financial malpractices in many business involving the public sector organisation today contribute mostly to one of the factor that lead to business failure.
In all human endeavour and activities, there are usually stories of successes achievement and failures.
Business are therefore no exception initially, a motive for setting up a company is for economic reasons which are usually taken to be profit maximization objectives in period of booms as was experiences in the mid seventies during the oil boom; making business, including the public sector organizations, thieved in an era of abundance.
In such as era employment production and income were at their peak level and government expenditures at all levels rise considerably without any corresponding rise in productivity.
During this period also, no one complained and managers of our various businesses did not think of means of survival and sufferance.
Efficiency and effectiveness in the use of scare resources were never thought of and there were total absence of research control mechanisms.
Economic planners in such periods, makes unrealistic projections and assumptions they plan to build high ways, sky scrappers, new state capital (or new cities), contracts were awarded induscomminately without the need for detailed cost benefit analysis.
In summary, the sky was the limit for businesses that have access to cheap credits, and investible funds. In such periods, capital inadequacy, under utilization of production capacity, deficiency in aggregate demand for the firm’s product etc, were never heard of during the peak periods.
Contrary, when the hay days were over and the down turns take over the dooms day arrives and business failures becomes the order of the day as a result of adverse macro-economic policies and resulting adverse conditions.
Consequently, expansion is hindered for even the surviving firms. This is the time when company executives/managers, government federal, state and local governments as well as individuals, remember to think of such phrases as viability, belt tightening profitability, growth and survival and better ways or resource planning, control and managements, it is a time when managers/directors of our business firms, public companies/corporations and other governmental organization now thinks of cost reduction and minimization of fraud and financial malpractices which has hitherto plunge such organisation into distressed conditions.
The adverse marco-economic conditions in Nigeria today has attained a dimension that can best be described as “crisis” level. This had led to some drastic measures/programmes being initiated by the government to keep the nation afloat.
Such measures have come in different names at different times, ranging from the belt tightening of the Shagari administration through economic emergency order of the Buhari – regime to the structural adjustment programme (SAP).
As a result of these measures, firms and individuals have found themselves in extremely hard conditions to the extent that some have failed completely, other are stagnated and distressed.
What factors are specifically responsible for such state of affirms of the business firms?
This project is set out to investigate how fraud and financial malpractices can bring a highly profitable organizations into distressed and untimely liquidation.
- STATEMENT OF PROBLEMS
(1) Inspite of the federal government in privatalsing the telecommunication industry, NITEL Plc is still saddled with the problem of bad image arising mostly from fraudulent malpractices by both management and staff of the company
(2) INTERNAL CONTROL: There are inherent weakness in the internal control system of NITEL Plc.
(3) NIEL Plc management does not consider policy or fraudulent cases as strategic in its decision taking.
(4) NITEL Plc has not met with the expectation of its investors as a practiced entity since its privatization.
1.3 PURPOSE OF THE STUDY
1. To fund