MINIMIZATION OF BANK FRAUD IN NIGERIA COMMERCIAL BANKS. A RESEARCH PROJECT MATERIAL ON BANKING AND FINANCE
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
Since the inception and recognition of bank in Nigeria. it has been in a head way of existence and survival. This is because since the emergence of this area of economic and business knowledge, fraud and all forms of dishonesty and misappropriation of money entrusted to one had obviously to Nigeria banks.
This defect has been lingering in the minds of honest bank employee and the student majoring into the banking profession too give potential thought as to the near future perfection of the banking and finance as a discipline fraudulent actives in the Nigerian banks have grown so great in strength, rigor and vigor that most of the banks are exposed to great risk of losses inspire of all modern sophistionted security advices employed in the dally operation and function by Nigeria banks.
Banking industry is the bed rock of any developing and developed economy the world over. It is therefore very important to find out any problem that rises to to disrupt those industries. Every transactions involved in international trade is done through the banks and this is what depicts the direction of any economy all over the world. Industrial development and establishment project financing etc are all done through banks therefore the eradication fraud in banks is the concern of every worthy patriot of this great nation, fraud is an international misrepresentation consentient for the purpose of inducing a mother in reliance upon it to pant with some valuable things, money properties belonging to him or generally to surrender a legal right. Although the existence of fraud in our banks is not our uncommon or unexpected phenomenon. It is worrying because “of all the various problems conformity the Nigeria banking industry today that of fraud is easily the most intractable.