ABSTRACT
The establishment of EFCC was hinged on
reducing the prevalence of fraud and other financial crimes in Nigeria. The
basic assumption was that creation of the commission would strengthen the
effectiveness of the internal control system of banks. This study examined the
effect of EFCC performance on fraud control in Nigeria banks from 2008 to 2017.
Two hypotheses formulated for the study was tested using the ordinary least square
multiple regression analysis at 5% significance level and was computed with the
aid of Eviews statistical software package. The empirical result revealed that
EFCC operations have significantly reduced the number of fraud cases in Nigeria
banks. It was equally revealed that EFCC operations have significantly curbed
the total amount lost to bank in Nigeria banks. The F-statistic value of 63.307
with Durbin Watson statistic of O.997 indicates that the overall regression
model is significant. This brings to the final conclusion that EFCC performance
have significantly effected on fraud control in Nigeria banks. This study
hereby recommends that the Economic and financial crimes commission (EFCC) and
other related agencies like the ICPC should be strengthened and re-strategize
their efforts towards combating financial and economic crimes especially bank
related frauds so as to curb the evil trend of financial maipractices in the
banking sector. This will enhance smooth operations of Nigeria banks and
promote local investment for tangible economic growth.
ABRAHAM, G (2021). Effect Of EFCC Performance On Fraud Control In Nigerian Banks (2008-2017) . Mouau.afribary.org: Retrieved Nov 01, 2024, from https://repository.mouau.edu.ng/work/view/effect-of-efcc-performance-on-fraud-control-in-nigerian-banks-2008-2017-7-2
GODWIN, ABRAHAM. "Effect Of EFCC Performance On Fraud Control In Nigerian Banks (2008-2017) " Mouau.afribary.org. Mouau.afribary.org, 13 Jul. 2021, https://repository.mouau.edu.ng/work/view/effect-of-efcc-performance-on-fraud-control-in-nigerian-banks-2008-2017-7-2. Accessed 01 Nov. 2024.
GODWIN, ABRAHAM. "Effect Of EFCC Performance On Fraud Control In Nigerian Banks (2008-2017) ". Mouau.afribary.org, Mouau.afribary.org, 13 Jul. 2021. Web. 01 Nov. 2024. < https://repository.mouau.edu.ng/work/view/effect-of-efcc-performance-on-fraud-control-in-nigerian-banks-2008-2017-7-2 >.
GODWIN, ABRAHAM. "Effect Of EFCC Performance On Fraud Control In Nigerian Banks (2008-2017) " Mouau.afribary.org (2021). Accessed 01 Nov. 2024. https://repository.mouau.edu.ng/work/view/effect-of-efcc-performance-on-fraud-control-in-nigerian-banks-2008-2017-7-2