The Association of Certified Fraud Examiner (ACFE), Lagos Chapter has said Nigeria needs to tighten the noose around its internal control system to be able to preserve its economic resources from further loss.
The body disclosed that at the just concluded Nigerian Anti-Fraud Conference, which featured expert participants across all sectors of the economy both from the public and private sectors as well as from outside the country.
Reacting to Africa and Nigeria annual loss of $148 billion and $ 2.5 billion to financial and electronic fraud respectively, the experts were optimistic that the trend could be reversed with tight forensic investigations, right policies, initiatives, unbiased regulations enforcement as well as strong internal control menchanisms, amongst others.
Tax appeal tribunal commissioner and a professor of accounting at Bayero University, Kano, Prof. Kabiru Isa Dandago in his presentation titled, ‘Who Commit Fraud and Why : Towards Fraud Prevention in…
