Strategies for Fraud Detection and Minimization in Nigerian Tertiary Educational Institutions

Journal of Financial Management and Analysis, Forthcoming

Posted: 16 Nov 2005

See all articles by MARGARET E. AKPOMI

MARGARET E. AKPOMI

Rivers State University (RSU) - Department of Business Education

Christina A. Ugodulunwa

affiliation not provided to SSRN

Matthias A. Nnadi

Abstract

The research was conducted to determine the extent of fraud perpetration in tertiary educational institutions in Nigeria and to proffer strategies for bringing incidences of fraud to the barest minimum. Eight tertiary institutions, two each from the four geographical zones of Nigeria were selected for the study. Two research questions were posed and the instruments for data collection were the Questionnaire and Interview; data was analysed using percentage. Results of the data analysis showed that fraud perpetration was as a result of negligence on the part of management in the areas of recruitment and selection as well as placement of staff in bursary and account units. Internal and external auditors were also found to be conniving with corrupt officials to cover fraud. Based on the findings, such strategies as identification of manpower need, recruitment and selection, placement of qualified staff, and putting in place an efficient internal control system were recommended.

Keywords: Tertiary Educational Institutions, Nigeria, Fraud

JEL Classification: B41, I22, N37

Suggested Citation

AKPOMI, MARGARET E. and Ugodulunwa, Christina A. and Nnadi, Matthias A., Strategies for Fraud Detection and Minimization in Nigerian Tertiary Educational Institutions. Journal of Financial Management and Analysis, Forthcoming, Available at SSRN: https://ssrn.com/abstract=846224

MARGARET E. AKPOMI (Contact Author)

Rivers State University (RSU) - Department of Business Education ( email )

P.M.B. 5080
Port Harcourt, Rivers State
Nigeria
002348023212845 (Phone)

Christina A. Ugodulunwa

affiliation not provided to SSRN

No Address Available

No contact information is available for Matthias A. Nnadi

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