Abstract:
This project, “fraud in the Nigeria Banking Systems problem and prospect a case study of First Banking of Nigeria plc Abakaliki and Oceanic Bank Plc Abakaliki branches”, was carried out to examine the various types of fraud as well as the causes and sources. It was also meant to explore significant effects of fraud on banks. Finally, the study was equally embarked upon to proffer possible remedies, detection measures, prevention and control of the subject matter in the Nigeria Banking system. Data was collected through the questionnaire (Primary) and interviews as secondary data thus serving the inductive research method. Statistical analysis techniques such as the chisquare distribution test- analysis techniques and percentages were adopted to analyze the data collected after which several findings were made, which included: the desire to get rich quick accounts greatly for persistent bank fraud and that the internal control system in the Nigerian banks is weak and ineffective .After which it was concluded that, the money laundering (prohibition) Act is the best strategy to combating fraud in the banking industry.
