Empirical Examination Of Fraud In The Nigeria Banking Industry

This study empirically examined fraud in the Nigeria banking industry using First Bank of Nigeria Plc. It covered the period of 33yrs from 1990 to 2023. Specifically, the study examined how insider fraud, loan fraud, and cyber fraud affect the profitability of First Bank of Nigeria Plc. The research adopted an ex-post facto research design. Secondary data served as the primary source of information, obtained from audited financial statements and annual reports of the bank. Additional data were sourced from regulatory bodies such as the Central Bank of Nigeria (CBN), and publicly available fraud reports from the Nigerian Stock Exchange (NSE). Key findings indicate that fraud significantly affects the profitability of First Bank of Nigeria Plc, with insider fraud and loan fraud having the most pronounced effects. Conversely, the study revealed that Cyber fraud, while prevalent, does not exhibit a significant direct impact on First Bank of Nigeria Plc, indicating that the bank have implemented effective countermeasures to mitigate losses. therefore, the study recommends that Banks should strengthen their internal control frameworks to prevent insider fraud by enhancing employee monitoring systems, conducting regular audits, and establishing a culture of ethical banking practices

• Banking and Finance Project Topics and Materials