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The level of fraud in the present day Nigeria has assumed an epidemic dimension. It has eaten up deep into every aspect of our live. Bank fraud can be defined as a conscious or deliberate effort aimed at obtaining unlawful advantage at the detriment of another person who is the rightful owner of the fund.

The increasing  incidence of fraud and forgeries in our banks in recent years if not arrested might pose certain threats to the stability and survival of individual banks especially micro finance institution and performance of the industry as a whole.

For one thing, fraud results in huge financial losses to banks and to their customers thereby, depleting shareholders fund and banks (community bank) capital base, as well as loss of confidence in banks. Also the incidence of fraud and forgeries could lead to closure of some affected microfinance banks as had happened in some parts of the world including here in Nigeria.

Fraud in the micro finance institution are not new, they are as old as the industry itself. However, like in the greater society, they have become one of the most intractable problem of modern day banking. While the concern of the banking community is growing day by day and management vigilant is increasing with the help of computerization amongst others, it is recorded that millions of Naira are still being lost to fraud and forgeries.


like some of the micro finance bank are trying very well to make sure they stop fraud and forgeries in their bank, for example Abagana micro finance Bank, the M.D i.e managing director Mrs Ejike C.K working so hard to prevent this corruption, the bank itself has also been of great service to the people of Abagana and its environs.

Money which should have been at the risk of loss to armed robbers are now saved. Besides, because of their liberal credit arrangement, the bank has helped the development of many retail and small sale business. All these have led to improve social and economic development of many retail and small scale business in Abagana. The essence of the study is to investigate the problems associated with fraud and causes of fraud with a view to identify possible solution.

I believe that many of the staff of Abagana micro finance bank would neither answer questions posed on them nor fill in the questionnaire due to fear. It is also pertinent to note that some of the document files that would have aided in this seminar were out of bound to the researcher, therefore making some information inaccessible.


The problem here is the cause of fraudulent practices in our (Nigeria) micro finance and subsequently, the ways / methods of determining these frauds and possible ways of even stopping them from happening in the first place. This is very necessary that more people are finding confidence in the strength of our banks. These fraud should not be allowed to happen so that the integrity of our banks and consequently, bankers should be maintained



The objective of the study is to investigate the problems associated with fraud and causes of fraud with the view to identify possible solution.

  1. To investigate the system of banking operation.
  2. To identify problem facing banking activities and make recommendations on how to solve them.
  3. To reduce if not to eliminate the problems this issue has brought to the economy.
  4. To receive money and collect proceeds of banking instrument on behalf of its customers.
  5. Precision of ancillary banking services to its customers such as remittance of funds and safe custody facilities.


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