E-NAIRA: A TOOL FOR TRACKING AND CURBING MONEY LAUNDERING AND FRAUDULENT TRANSACTIONS IN NIGERIA
Abstract
ABSTRACT
This study examined the E-Naira: A tool for tracking and curbing money laundering and fraudulent transactions in Nigeria. The objectives include to analyze the technological features of the E-Naira role of forensic accounting in an organization, to assess the impact of the E-Naira on money laundering and fraudulent transactions and to identify challenges and limitations in the implementation of the E-Naira. The study adopted pre-test estimation of frequency tables to ensure that the data set is stationary and fit for the analysis. Ordinary Least Square Simple Regression method of analysis was adopted for the estimation. The data utilized for the study were extracted from the use of questionnaires. The study revealed that technological features of E-Naira play a positive and significant impact on money laundering and fraudulent transactions, it also noted that the study revealed that E-Naira play a positive and significant impact on money laundering and fraudulent transactions, the study also showed that challenges and limitations has negative but insignificant impact on the implementation of the E-Naira. Thus, the study concludes that E-Naira: has positive and significant impact for tracking and curbing money laundering and fraudulent transactions in Nigeria. This study recommends among others that monetary authority should implement policies that will curb fraudulent activities.
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