Internal Control System As A Factor Of Fraud Prevention In Nigeria Financial Institution

CHAPTER ONE INTRODUCTION 1.1     BACKGROUND OF STUDY It is feared that the inability of management to ensure effective enforcement of rules and regulation have rendered that operations of internal control system as the banking industry open to abuse. The net effect could be that every on carries out his schedules off duties in any manner he likes which consequently gives those wishing to commit fraud their long expend golden opportunity. Prior to 1952, there was no forms of Banking art or ordinance to regulate the establishment and operations commercial banks or a central bank to supervise the…