ABSTRACT
Commercial Banks occupy an indispensable position in the
Nigeria economy. They are the picot upon which other business
firms and other activities revolve and “a conduit pipe through
which all financial transactions pass”. However, literature in the
field shows that fraud and other financial malpractice in the
Nigeria Banking system nearly always lead to loss of monies
that ordinarily belong to someone other than banks. In every
bank cases where frauds with crippling frequency and in large
sizes such banks may be forced to close down or outright
distress as a result.
When the commercial Banks lose money
and it is wound up or distressed in turn the customers and the
nation in general loses of money, which also affects the economy.
These study, therefore investigate the various levels of fraud in
our Nigerian banking system. To this end a hypothesis was
tested and confirmed that fraud not only drain the economy, but
also lead to a lost of confidence by foreign investors.
