THE EFFECTS OF FORENSIC ACCOUNTING ON FRAUD PREVENTION IN NIGERIAN BANKING SECTOR (A CASE STUDY OF FIRST BANK PLC SAGAMU OGUN STATE)
Abstract
This study investigated the effect of forensic accounting on fraud prevention in the Nigerian banking sector, using First Bank Plc, Sagamu Ogun State as a case study. It aims to assess how forensic accounting influences financial transparency, accountability, and regulatory compliance; to identify strategies for improving its application; and to evaluate the effectiveness of forensic techniques in detecting and preventing fraud. A quantitative research method was adopted, using structured questionnaires administered to 100 respondents within the bank. The data were analyzed using descriptive statistics and Chi-square to test three formulated hypotheses. Findings revealed that forensic accounting significantly improves fraud detection and enhances regulatory compliance in the banking sector. The study recommends greater adoption of forensic practices, continuous staff training, and stronger regulatory support. This research contributes to policy-making and offers practical insights for improving fraud prevention mechanics in Nigerian banks.
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