Appraisal Of Internal Control System As A Means Of Preventing Fraud In Nigeria Financial Institutions A Case Study Of First Bank Of Nigeria Plc Onitsha

ABSTRACT 

This research work was on the appraisal of internal control system as a means of preventing fraud in Nigerian Financial Institutions. 

However for a more detailed study a case study was carried on First Bank Plc Onitsha Head Office.  The bank understudy was selected by simple random sampling. 

This study was necessitated because of the Increasing wave of Bank fraud in Nigerian in recent times as reported by the Nigerian dailies.  Therefore the need to investigate these reports and if confirmed, a financial institution and to what extent the application of an effective internal control system can go to help matters. 

All aspects of this work is very relevant in one way or the other to the Nigeria Banking Industry, as a whole, and for those who may be interested in carrying out further study in this topic.

The research design is the survey approach that is the cross sectional survey type of descriptive research which requires the selection of respondents from a population.  The population of the study is made up of the Senior Officer of the Bank under study who has worked in the Bank for more than five years. 

In determining the sample size Bowleys formulars on sampling was used while the allocation of questionnaires to the bank was done randomly. 

Also data were collected through primary and secondary sources, the primary sources of data are mainly through personal interviews and distribution of questionnaires while the secondary source include Books, Journals, Newspapers and Magazines. 

The method of statically analysis includes the use tables, percentage analysis and logical deductions while the significant tests of two means was used in testing the hypothesis.

From my finding, it was ascertained that Banks have the best internal control system in Nigeria.  The internal control system is both adequate and effective, although more operative improvement and reviews is vital.  The Management of Bank should be at alert so as to close any loophole that may arise in their internal control system.  Also it was discovered that the major cause of fraud is the employment of dishonest staff.  The fore staff qualities like integrity should be ascertained before employment.  There should be an increased enlightens on the legal implications of fraud among other.

TABLE OF CONTENT 

Title Page

Certification

Dedication

Acknowledgement

Abstract

Content

CHAPTER I

1.1Introduction

1.2An Overview of First Bank Plc

1.3Statement of Problem

1.4Objective of the Study

1.5Statement of Hypothesis

1.6Research Question

1.7Significance of the Study

1.8Scope and Limitation of the Study

1.9Reference/ Note

1.10Definition of Terms

CHAPTER II

2.0Review of related Literature

2.1Definition of Fraud

2.2Types and Causes of Bank Fraud

2.3Concept and definition of Internal Control

2.4Types of Controls

2.5Internal Control system In financial Institution (First Bank Plc)

2.6Internal Control measures for controlling Fraud in Financial Institution.

2.7Expected Qualities of a Bank staff for Effective Internal control system.

2.8Computers and Internal Control System

2.9Reference / Note.

CHAPTER III

3.0Research Decision and Methodology.

3.1Methods of data Collection

3.2The Research Population

3.3The Sample Technique

3.4The Sample Size

3.5The Statistical tools used.

CHAPTER IV

4.0Data presentation and Analysis

CHAPTER V

5.0Findings, Recommendation and Conclusion

5.1Discussion of Findings

5.2Recommendation

5.3Conclusion

5.4Bibliography