Financial Crime in Nigeria Public Sector: a Study of Lagos State Ministries
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International Journal of Innovative Research in Social Sciences & Strategic Management Techniques
Abstract
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This study study investigated the existence of financial crime in the Nigerian public sector and the effects of government reforms implementation in Lagos state ministries. The study
further examined the intensity and effectiveness of punishment against such crimes.
Questionnaire survey was used as primary data collection method. Out of 160 copies of
questionnaire, 83 were retrieved as response from accountant and auditors across 10 ministries.
The t-test statistics was used in testing the hypotheses stated in the study. This revealed that
contract fraud and payroll fraud where prevailing fraud in the ministries during the previous
administration. Government reforms have also been brought into way to reduce and curb the
effects of financial crime and to seal loopholes. The study recommends the effectiveness of the
legal anticorruption agencies in charge of reducing the rate of financial crimes and there
should an increase in the level of their enforcement. There should be high profile penalties and
charges involving fraud in order to discourage its reoccurrence in the public sector.
Keywords
HG Finance