LIQUIDITY PROBLEMS IN COMMERCIAL BANKS

 

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ABSTRACT

This study is aimed at appraising the liquidity problems in commercial banking in Enugu state with a view of determining how these problems affects commercial banking business, as well as determining whether the policies imposed by the central bank has actually solved the liquidity problems of commercial banks or not.  In doing this, we want to classify the period under review (1980-1980) into want to pre-sfem period and the post-sfem period.  In order words, the study intends to discuss the pre-sefem and post-sfem experiences of banks and offer useful suggestions as to how their problems could be alleviated if not eradicated.

For this purpose, empirival survey and history research was carried out and the statistical tool used is percentages.  The source of data for this study are both primary and secondary where the primary soruce consists of questionnaires and oral interviews, the secondary source is in the form of books, journals and news papers.

The research revealed that prior to the introduction of the structural adjustment programme with the second tier foreign exchange market (sfem) as its main feature, the problem has been that of excess liquidity, however, the introduction of the structural adjustment programmes (SAP) brought about the present liquidity crunch in the banking system.  It was further found out that both excess liquidity and shortage of liquidity affect the banks loans and advances as well as their profits.  Further more, it was observed that the policies imposed by the central bank has not solved the (excess and shortage of) liquidity problems of commercial banks.

As a result of these, it is suggested, among others, it is suggested among others, that banks should intensity their efforts towards acquiring more deposits drive for deposits (as it is popularly known) in order to alleviate the present problem of liquidity shortage in the system.  Moreover, there should be effective supervision of the policies imposed by the central bank to combat the liquidity problems of commercial banks to ensure that the policies are adequately implemented.  Other measure to alleviate either the excess or shortage of liquidity problems include adjustment of interest rates, adjustment of liquidity ratio, diversification of commercial banking services, establishment of more rural banks to mobilize rural savings and so on.  The essence of these is to maintain adequate liquidity and at the same time make enough profit for the shareholders.

 

 

PREFACE

 

          As a matter of fact, a lot has been written on the liquidity problems in commercial banking in Enugu state.  The basic challenge of this text attempts to discuss the two experiences (Excess liquidity and shortage of liquidity) of commercial banked in Nigeria and on a final note offer useful suggestions as to how these problems could be alleviated if not eliminated.  It is true that liquidity and profitability are among the many problems with which bank management struggles constantly.  This is because of the need to balance the pursuit of profit will the need to remain liquid.

As indicated above, commercial banks in Enugu state have obviously experienced excess liquidity era and are presently going the specific experience or shortage of liquidity.  This study therefore aims to find out the ways of the two experiences on the profitability of commercial banks, whether the agencies imposed by the federal government of ten though the central bank have solved the problems or not and how the dual problems have affected commercial banks loans and advances to their customers.

In terms of chapter organization, the next is arranged into five chapters.  The first chapter is devoted to introduction and some fundamental issues related to the research work.  The second chapter contains the review of related literature to the research work.  Here, too, the exposition of the liquidity problems of commercial banks in Enugu state is carried out.  The approach used here is pre-sfem and post-sfem experiences of banks.  Discuss here also, is the policies introduced by the federal government, mostly through the central bank, in alleviating the liquidity problems of banks.  Pre-sfem policies and post-sfem policies approach has been used here too; chapter three deals with research design and methodology which include the sources of data, interview questions, samples used, methods of investigation and scope and limitations of the study.  Chapter four bears the presentations, interpretation, test and analysis of data.  Finally, in chapter five are the summary finding, conclusion and recommendations.  Recommendation are based on the two experiences of banks, although on the two experiences of banks, although situation since it is the prevailing situation of commercial banking system in Enugu state.

 

 

TABLE OF CONTENTS

 

CHAPTER ONE

INTRODUCTION

1.1            Background of study

1.2            Statement of the study

1.3            Objective of the study

1.4            Significance of the study

1.5            Scope and limitations of the study

1.6            Definition of terms

 

CHAPTER TWO

REVIEW OF RELATED LITERATURE

2.1            Liquidity ratio significance of liquidity ratio computation of liquidity ratio

2.2            Cash ratio

2.3            Liquidity risk

2.4            Liquidity requirements of commercial banks in Enugu state

2.5            Liquidity problems of commercial banks in Enugu state pre-SFEM Experience post-SFEM Experience

2.6            Policies introduced by the central banks of Nigeria in solving liquidity problems of commercial banks in Enugu state. Pre-SFEM policies post-SFEM policies

 

CHAPTER THREE

Summary of findings, conclusions, and recommendations

3.1            Summary of findings

3.2            Conclusions

3.3            Recommendation

Bibliography

Appendix

 

CHAPTER ONE

INTRODUCTION

1.1            BACKGROUND OF STUDY

Liquidity is the word that the banker uses to describe his ability to satisfy demand for cash in exchange for deposits.  It can also be defined as the capacity of the bank to meet promptly demands that it pays its obligation.

A bank is considered to be liquid when it has sufficient cash and other liquid assets, together with the ability to raise funds quickly from other sources to enable it to meet its payment obligation and financial commitments in a timely manner.  In addition there should be a sufficient liquidity buffer to meet almost any financial emergency.

How much liquidity to hold and in what forms to hold it are a constant concern of bank management.  Banks are required to comply with legal reserve, requirements.  In addition, banks need liquidity to meet seasonal and unexpected loan demands and deposit fluctuations.  The majority of the transactions can be anticipated in advance and met from expected cash in flows from deposits, loan repayment or earnings.

Cash reserves also are needed to take advantage of unexpected profit opportunities, or for what might he termed aggressive purposes.  When a business firm that the bank has been working to secure as a customer finally presents a loan application, or a particularly desirable investment develops, the bank must have funds available to seize these opportunities.  During periods of expanding economic activity, banks are frequently presented with attractive loan situations which can only be met if banks maintain adequate liquidity. To determine the liquidity a bank needs at a particular time is to find the ratio of loans to deposits.  The higher the ratio is, the less willing banks will be in lending out and vice versa.

In Enugu State, commercial banks activities are regulated strictly by the banking act of 1969 as amended under the control of the central bank of Nigeria.  As a result of these regulation by the central bank, the commercial banks are required to hold specific assets equal to a certain percentage of their deposits and certain liabilities in liquid form.  This is known as the legal reserve requirement.  In the legal reserve requirements are liquidity ratio requirement, cash reserve requirements, stabilization securities issued by the central bank and special deposits.

Liquidity problems, for the purpose of this study, are looked at as the problems encountered by bank managers who are responsible for liquidity management, when there is either excess liquidity or liquidity squeeze in the banking system or in commercial banks.

 

1.2            STATEMENT OF THE STUDY OR PROBLEM IDENTIFICATION

There is no gain-saying, the fact that prior to the introduction of the structural adjustment programme (SAP) of which the second-tier foreign exchange market (SFEM) is the nucleus, the commercial banks in Enugu state have been wallowing in excess liquidity.  Consequently, they maintained excess liquidity ratios and were in the habit of refusing, deposits from the public.  These may be accountable to some deficiencies in the management policies of the central bank of Nigeria and the overall under developed nature of the entire economic system.  However, the structural adjustment programme with SFEM as the chief feature changed the trend.  The situation became that of shortage of liquidity or liquidity crunch, as it is popularly called.

In any case, for the purpose of this treatise, the liquidity problems of commercial banks have been identified from two perspective.

One is that they had excess liquidity before the advent of SFEM.

The other is that shortage of liquidity have been telling hard on them since the existence of SFEM under SAP.  In otherwords, this treatise takes a PRE-SFEM and posi-SFEM change on the liquidity problems of commercial banks.

With respect to the excess liquidity situation, this study intends to find out the effect of the excess liquidity in the banking system on the profitability of commercial banks, it investigates whether or not the policies imposed on the commercial banks by the central bank have succeeded in mopping up the excess liquidity in the banking system, and finally whether or not the excess liquidity in commercial banks affects loans and advances to their customers.

On the other hand, the shortage of liquidity perspective, focuses on its (shortage of liquidity) effect on the profit ability of commercial banks, whether or not the policies of the central bank can actually corrects the shortage of liquidity position of commercial banks, and above all how shortage of liquidity affects loans and advances to customers.

 

1.3            OBJECTIVE OF THE STUDY

Having identified the problems to which this study addressed itself, the writers shall in this work make a critical insight into the dual problems of excess and shortage of liquidity in commercial banks in enugu state and determine the effect and reaction of the two situations on the following:

1).     The profitability of commercial banks in Enugu State.

2).     Their reaction to the various policies of the government through the CBN to correct the two anomalies.

3).     The overall impact of these two situation on loan advanced to customers of the commercial banks.

 

 

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THE EFFECT OF FINANCIAL ACCOUNTING REPORTING ON THE MANAGEMENT OF A BUSINESS

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ABSTRACT

          Effort is made to access the effect of formal accounting reporting on the management of  a business financial accounting covers those activities related to the preparation of certain reports which are known as financial statements. These statement report the financial status of a firm at a particular time. The firms activities and resulting profit/losses during the most recent period and the flow of resources occurring within the firm during the same period.

I draw my research from the work of many authors. Such work done have included textbooks in all forms, magazine and Encyclopedias.

Apart from extensive use of literature, other method of research include (a) interview with businessmen. (b) Questionnaires have been designed and distributed to some businessmen (especially at trade fair). The questionnaires have been designed for officers  in management cadre in public and private companies, shareholders, staff, partners and owners in sole proprietorship

 

 

TABLE OF CONTENT

CHAPTER ONE

1.0  Introduction                                                                       1

1.1  Statement of problem                                                                   3

1.2  Purpose of the study                                                           3

1.3  Significant of the study                                                       4

1.4  Statement of Hypothesis                                                    5

1.5  Scope of the study                                                              6

1.6  Limitation of the study                                                       7

1.7  Definition of terms.                                                             8

 

CHAPTER TWO

2.0  Review of Related Literature                                             11

2.1  Accounting as a language of business                              11

2.2  Users of accounting information                                               13

2.3  Characteristics of good information                                17

2.4  Management of information                                            19

2.5  Basic accounting concept                                                 25

2.6  The financial accounting branch                                                25

2.7  Other accounting branches.                                             27

CHAPTER THREE    

3.0  Research design and methodology                                              30

3.1  Sources of data                                                                 31

3.2  Sample Size                                                                      32

3.3  Method of investigation                                                    32

CHAPTER FOUR

4.0  Data presentation and analysis.                                         36

4.1  Data presentation and analysis.                                       36

4.2  Test of hypothesis.                                                           43

CHAPTER FIVE

5.0  Summary of findings, conclusion and recommendation.   50

5.1  Findings                                                                                      50

5.2  Conclusion                                                                        51

5.3  Recommendation                                                               53

Bibliography                                                                     55

Appendix                                                                          57

 

 

CHAPTER ONE

  INTRODUCTION

          Financial accounting covers those activities related to the preparation of certain reports which are known as financial statement. These statements reports the financial status of a firm at a particular time the firms activities and resulting profit or losses during the most recent period and the flow of resources occurring within the firm during the same period.

This statement made by A. THOPSON MONTAOMERY gives us an idea on the meaning of financial accounting. However the question arises what are the efforts of these financial account reports in the management of business? The answer poses a problem which the paper will seek to solve. Not all business persons understand the impact of financial accounting information on the management of their business, some manages business intuitively. Other, like traffic defaulters who disobey road signs, disobey the warning of communicated by financial accounting information and end up in a “Business Accident”

There are other sources of information which have impact on the management of Business and the combination of these sources give an information system in the complex nature. As FARM WOOD puts it, “it must not be thought that accounting of any form is the management control system. Instead it is part of it”. But accounting information is the only system through which both mangers and external users get a picture of the organization as a total entity.

Moreover, financial accounting information usually comes in the disguised form by “wearing” the cloak of technicalities. Such technicalities include calculation which need expert knowledge in its interpretation. But when some business because of low financial layout, cannot employ such experts hands, they tend to ignore financial accounting information system which has an effect on the management of any business concern. The problem is: Do all businessmen know this? This is the question that the researcher seeks to answer also.

 

1.1     STATEMENT OF THE PROBLEM.

          Is very important for the functioning of any business. The financial accounting system in most business organization do not portray fully the principles of accounting systems. The flow of information, the cost of collecting any information and the internal control procedures have some loops holes.

In reality, it would be impossible for the researcher to study all the information system in all or even one of the organization. The study therefore involves a study of some typical financial accounting reporting on the management of a business. The researcher will carry out an empirical study and appraisal of a business financial accounting and see whether there is room for improvement to be made. It will therefore involve a review of the financial accounting and its related procedures.

 

1.2     PURPOSE OF STUDY

          The goal of every business is profit optimization. The management of most business exist primarily for this purpose. Whether the business ownership is separated from the management, the rules for profit optimization (or maximization as some books may choose to call it) are still the same. Profit optimization is used rather than maximization. In this paper because optimization has a social effect.

The management is able to do this as long as they are able to use their financial resources profitably they must know the effect which financial accounting information has on the management of the business. Financial accounting measures, by means of the reports they prepare the extent to which management has succeeded in their goals of profit optimization.

The report which serves as financial information of the accounting period has an impact on the future achievement of the business. This effect now becomes the goal of this research. The researcher seeks to know more about this effect (ie the financial accounting effect on the management of business) and also advises all business persons on the effect.

 

1.3     SIGNIFICANCE OF THE STUDY

          The research will be significant or useful in

1. Examining the effect of financial accounting as information system.
2. Directing the business person to such effect
3. Warning, not only business persons but all person’s from neglect of financial accounting
4. Encouraging all to obey head the warning of financial accounting information.

The following classes of people will find the work as useful references.

1. Managers of companies, corporations and any other firm business whether such business are owned by management or not.
2. Actual and potential leaders of money to business.
3. Customers
4. Owners and shareholders
5. Government
6. Other researchers.

 

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THE ROLE OF AUDITORS IN PREVENTION OF FRAUD IN BANKING INDUSTRY

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ABSTRACT
Chapter one contains the introduction and analysis of fraud. So many people define fraud in different way because of its inexplicit meaning. It also concentrate on the limitation, objectives and importance of auditing in our banking industry.While chapter two deals with the definition of Auditors and their duties in banking industry. It also discussed about various types, causes, effects of frauds in banks as well as the role of Auditors to hip it in the bud.
The paper equally looked into the means of preventing or reducing the incidence of fraud in the banking industry or operation. From the analysis, it was established that there are incidence of fraud in our banks. It was equally discovered that fraud occurs more frequently on current account department than in any other departments and this is normally done through forged cheques. It was also discovered that bank frauds can hardly succeeded without the aid of bank staff.
Finally, it was discovered that frauds have effects in operation and progress of the frauds have effects in operation and progress of the banks despite the control technique that have been instituted by the management of the bank.

 

TABLE OF CONTENT
CHAPTER ONE

1. 1. Introduction
   2. Background of the study

CHAPTER TWO
2.1 Who is an auditor and duties of an auditor
2.2 Types of fraud
2.3 Causes of frauds in banking industry
2.4 Effect of fraud in banks
2.5 The role of auditors in fraud prevention

CHAPTER THREE
3.1 Summary / findings
3.2 Conclusion
3.3 Recommendations

 

 

 

CHAPTER ONE

INTRODUCTION
1.1       BACKGROUND OF THE STUDY
The last two decade have witnessed an alarming increase in the incidence of commercial bank fraud in Nigeria which result in heavy lost to the banks and its customers. Nigeria, being a developing economy with increasing level of mechanization developing market as well as low level of competence in management. Experienced one of the most serious threat to the spread and practice of banking within the period.
Nigeria is one of the societies where corruption is the rule. Values are grossly misplaced and emphasis an wealth are able to accumulate. Undoubtedly bank frauds posses both economic and social problems and huge sum of capital has been lost by banks. Most Nigeria wants to be classified and included into the class of wealth millionaires even when they have not worked hard to be classified as rich people.
These are numerous existing laws targeted at controlling fraud but the general attitude of some Nigerians seem to make nonsense of the statutes existence. Most times, the law are visited only when the less privileged ones are involved (IKPE DENNIS NNAMDI). There is also a strain in the bank customer relationship and the image of the bank as a trust worthy financial center has been adversely affected. It is necessary the problem of bank fraud should be critically viewed and handled with perception considering the geometric rise in fraud want activities in commercial banks so as to restore a fraud free banking.

 

 

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THE PLACE OF PROPER AND ADEQUATE FINANCIAL RECORD KEEPING IN THE SUCCESS OF SMALL SCALE BUSINESS

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THE NATURE AND CONSEQUENCES OF JUVENILE DELINQUENCY IN NIGERIA: A STUDY OF ENUGU NORTH LGA, ENUGU STATE

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ABSTRACT

This study investigated the proposed that favour this proper and adequate financial record keeping in the success of small scale business. also discussed is a documentation of the research findings carried out among merchandizing oriented small business with the aim of charging the assertion among our small business proprietors that there is no relationship between sound accounting practices and profitability in business.

In began with under surveying the effects and cause of inadequate or complete lack of proper financial record among our small scale business proprietors. It also underlined the benefit of good financial record keeping. Discussed also is the extent to which simple companies maintained proper and adequate financial records.

Lastly, a relationship was established between proper and adequate financial records and success of small business.

Recommendation outlined a system of financial records for merchandizing oriented small scale businesses.

 

TABLE OF CONTENTS

CHAPTER ONE

• Introduction 1

1.1     Historical development of book-keeping                           2

1.2     Statement of problems                                                       3

1.3     Objective of the study                                                        4

1.4     Significance of the study                                                   5

1.6     Definition of terms                                                            23

 

 

 

CHAPTER TWO

• The review of related literature                                         26

2.1     Concept of small scale business                                         26

2.2     Constituents of proper and adequate financial record keeping in business.                                                                                 27

2.3     Benefit of proper and adequate financial record keeping business 30

2.4     Causes of inadequate record keeping in small scale business.33

2.5     The task of designing financial record keeping system.     36

2.6     Measurement of success in small business.                        40

2.7     Small business and auditing                                               43

 

CHAPTER THREE

• Research design and methodology 47

3.1     Method and procedures                                                     47

3.2     Sources of data                                                                  48

3.3     Research instrument                                                           48

3.4     method of data analysis                                                     49

3.5     Data analysis of techniques.                                               49

 

CHAPTER FOUR

4.0     Data presentation and analysis                                           50

 

CHAPTER FIVE

5.0     Summary of findings, recommendation and conclusion

5.1     Summary of findings                                                         67

5.2     Recommendations.                                                            68

5.3     Conclusion                                                                        75

5.4     Limitation of study                                                            75

 

CHAPTER ONE

1.0     INTRODUCTION

DEFINITION, NATURE OF BOOK-KEEP AND ACCOUNTING

          Book-keeping may simply be defined as an art of recording all money transactions of an organisation so that its relationship to both its proprietor and outsider can readily be ascericuned for a particular point in time. Book-keeping cannot be easily differentiated from accounting in general. The book-keeper writer up books and keeps accounting records in a system designed by the accountant whereas the amount ant controls the book-keeping system and ares information produced to prepare financial statement and advice management and other users of financial information.

Accounting can be defined in various ways depending on the objectives which the writer wants to achieve for the purpose of this study, accounting can be defined as a process of collecting, analyzing interpreting and summarizing of information or date relating to an organisation in such a way that decision guide is made easy. It can also be defined according to the nature of the activities involved in an organisation either descriptive or analytics information obtained from the activities involved.

An on information system it collects and communicate economic information about business and organisation whse actions and decision are related to the activities being communicated. Accounting may be summarized as a machine behind the writing of an economic history and plan of an or both qualitative and financial in manner so that facts can be realized for decision making for internal and external papooses.

 

• HISTORICAL DEVELOPMENT OF BOOK-KEEPING

There have been no ascertainable record as to when book keeping and accounting developed. Many schools of thought have numerated the historical development of book – keeping and accounting record from their historical perspectives and philosophical background.

It is on record that about 850 BC the early man established the fact that there have been in existence of book-keeping and accounts. After several prove by academicians a record was discovered which reveals the book-keeping practices. Table of days were used in recording facts and events as well as business transitions.

Similarly tablets were also used in reporting on how well the business has been.

The modern accounting practice according to listo traced its origin from Egypt which indicted that precious materials like stocks of jewelsy and other precious stocks were bought and sold by early merchants of different countries which sees the facts that proper accountability is necessary in the smooth running of the business and understanding among the owners of the business.

 

• STATEMENT OF PROBLEMS

To many Nigerians small business men, to get rich quick and short term profitability rather than sustained grwtoh, survival and long term profitability is the aim of being in business. therefore many of them cannot easily be couninced that there is a correlation between sound accounting practices and long range profitability. Even where they do, the problem does not there, because the record must be designed to suite the specific business if it is to be  adequate and proper. The question is does proper bo

DETECTION AND CONTROL OF FINANCIAL FRAUDS IN NIGERIA  BANKING SYSTEM; PROBLEMS AND SOLUTION

(A CASE STUDY OF U.B.A)

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THE NATURE AND CONSEQUENCES OF JUVENILE DELINQUENCY IN NIGERIA: A STUDY OF ENUGU NORTH LGA, ENUGU STATE

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 BANK SECURITY FOR 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 24 HOURS

CALL OUR  CUSTOMERS CARE  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.

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ABSTRACT

Banks deal essentially in cash financial instrument and other documents which are generally of a negotiable and easily transferable in nature. Hence it is very pertinent to say that the exposure of banks to both internal and external fraud is very great. This practice is very common to area involving cash, cheque and fraud transfer operation. Much research and thought are increasingly being directed towards the study of the causes of fraud in Banks because of its affects on Banking and the entire economy.

Recent study carried out by financial institutions training centre, Lagos, showed that causes of fraud reported annually between 1989 and 1998 was about 500 and the annual average money involved in attempted fraud was thirty-six money naira while the annual average lost to banks and customers was sixteen million naira. It may not be said to be an over statement that these figure may have risen geometrically upwards afterwards when about seventy eight percent of our banking operations are going to rural areas where poor institutional and infrastructural factors militate against efficient and effective checks on the branches in these rural areas.

Another problem facing our nations banking system is that of long cheques, frustrations, delays and disappointments being experienced in the banking halls by customers while either paying in or withdrawing their hard earned money. These associated problems and deficiencies have in recent years resulted to disencouraging growth of banking habit among the public. This our society has been turned into a mere “cash society”.

My personal experience as an accounting personal in one of the private companies and various articles I read on the problems of our banking system have aroused my deep interest in this project topic. It is therefore my pleasure to carryout this e on ‘detection and control of financial fraud in Nigeria banking system” using U.B.A plc as a case study.

Chapter one of this research work deals with introduction and over view on financial fraud.

The second chapter reviews the previous write-ups on the subject matter.

The third chapter assesses the work procedures on banks and focuses the loopholes inherent in there that aid fraudsters carryout the nefarious activities.

Chapter four of this work did on analysis of financial frauds by examine the methods used by fraudsters indefrauting the banking system. It establish that falsification of accounts and forged cheques and signatures ranked highest as means of perpetrating frauds.

An examination of categories of persons involved in the preparation of fraud reveals that bank staff are in the majority. This chapter also focuses on the final incidence consequence of bank fraud.

Chapter five discusses the general prevention techniques (solution) available to bank management in checking financial fraud, while the last chapter evaluates and concludes the with personal economic on the issue of financial frauds in our banking industry.

 

 

 

 

TABLE OF CONTENT

CHAPTER ONE: INTRODUCTION

• Background of the study 1
• Statement of the problem 4
• Objective or purpose of the study 5
• Scope or delimitation of the study 6
• Research questions 7
• Hypothesis 7
• Significance 8

 

CHAPTER TWO: REVIEW OF LITERATURE 

• Who are the bank fraudsters 13
• Fraud and fraudulent practice in banking services 16
• The legal framework 20
• What is fraud                                                          25
• Causes of fraud in U.B.A bank 29
• The effects of fraud in U.B.A. Bank 31

 

CHAPTER THREE: METHODOLOGY

• Research design 33
• Area of the study 44
• Sample and sample procedure 45

CHAPTER FOUR

• Data presentation and result           50

4.1     Summary of results/findings                                    50

 

CHAPTER FIVE

• Discussion implication, recommendation 74

5.1     Discussion of result                                                 75

5.2     Conclusion                                                              80

5.4     Recommendations                                                   84

5.5     Suggestions for further research                              87

5.6     Limitation of the study                                             88

References                                                               89

Appendices                                                              91

 

CHAPTER ONE

INTRODUCTION

1.1     BACKGROUND TO THE STUDY

          There has been no single accepted definition of term “fraud”. Fraud in whatever form is limitless on classification. This is why courts and writers on fraud shirk or try to escape away from giving a decisive definition. Notwithstanding, the varied meanings attached to the concept of financial fraud the author addressed the subject with the following working definitions.

Oxford and Chamber dictionaries define fraud as a criminal deception, act of deceptive trick, cheating swindling person or thing that deceives.

Longman dictionary define fraud as “an act of deceitful behaviour for the purposes of gain which may be punishable by law.

In the mind of civil court of justice, fraud may be said to cover “all acts, omissions and  concealments which involve a branch of legal or equitable duty trust or confidence justly reposed and injurious to another or by which an undue influence or available is taken off.

Brmifagbeni define banking fraud to mean an act or cause of deception deliberately practiced to gain unlawful or unfair advantages such deception directed to the detriments of another. The goes further to define fraud to mean depriving a person dishonestly or some thing which is his or of something to which he or would or might but for perpetration of the fraud be entailed.

Having closely studies these approaches to definition to fraud especially from the banking perspective. One may correctly see bank financial fraud as a deliberate act by an individual or group within or without the Nigeria banking system to cheat, swindle, deceives or manipulate in other to disposes the banks depositors/shareholders of their funds.

Therefore fraud and forgone in banking transactions can be perpetrated through falsification of entire in accounts of customers with a view to take advantages of the excess proceed.

Despite several definitions of frauds, the author believes that the ones so far given are rater appropriate, advantages and inspiring for the purpose in which the research work intends to achieve. This is because, they contain the basic  elements of fraud which include that:

1. There must be decent or deception directed to the detriment of another or entirety.
2. A false representation has been made knowingly or without belief in its truth or recklessly, carelessly, whether it true or false.
3. To obtain damages for deceits, it must be proved that the defendant intended that the plaintiff should act on it an suffered damages in consequences.

The position of banking system in our economy cannot be over emphasized. They act as the ‘conduct pipe’ through which all the financial transactions pass. However, fraud has proved a serious bottleneck to the proper functioning of the roles of the banking system to the Nigeria economy. People are beginning to get worries and sooner than later may loose confidence in our banking sector due to mainly the very increasing incidence of fraud in our today’s banks. Banks as the store house of the public funds and properties should be on trust not fraud.

• STATEMENT OF PROBLEM

The frequent cases of financial fraud in many financial institutions in our country is now taken as the utmost concern to financial experts and micro encomiasts. This has also initiated that task of seeking solutions to eliminate its occurrences. To some banking experts, the issue of fraud is an internal vice in the Nigeria banking system. They argue on this because a good number of fraud occur among our banks without the knowledge of outsiders even where the public is aware it doe’s not effect the rate at which customers withdraw or deposit money.

These ex