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Electronic Fraud and Performance of Deposit Money Banks in Nigeria: 2008-2018

Author

Listed:
  • Charles Emeka Nwobia
  • Patrick Anayo Adigwe
  • Gideon Kasie Ezu
  • John Nonso Okoye

Abstract

This research work examined electronic fraud and performance of Deposit Money Banks in Nigeria. It is a truism that Nigerian banks have lost of a lot of profit owing to the nefarious activities of fraudulent people including some unscrupulous elements in the banking industry who connive with fraudsters to perpetrate fraud of different magnitude. To this end, the Central Bank of Nigeria in conjunction with Nigeria Bankers Committee established Nigeria Electronic Fraud Forum (NeFF) with the sole aim of monitoring online banks transactions and reporting any financial regulation infringements. Specifically, the objectives of this research work are to analyse the relationship between ATM fraud and performance of DMBs in Nigeria and to evaluate the relationship between POS fraud and performance of DMBs in Nigeria. The data collected were analyzed using basic descriptive ordinary least square (OLS) and multivariate regression panel data setting with econometric analyses. The results showed negative and insignificant relationship between electronic fraud channels and financial performance variables. The study concluded that there is no significant relationship between electronic fraud and financial performance of Deposit Money Banks in Nigeria in the period of study. The study recommended improved collaborations between DMBs, CBN and other stake holders via NeFF to tackle fraud.

Suggested Citation

  • Charles Emeka Nwobia & Patrick Anayo Adigwe & Gideon Kasie Ezu & John Nonso Okoye, 2021. "Electronic Fraud and Performance of Deposit Money Banks in Nigeria: 2008-2018," International Journal of Business and Management, Canadian Center of Science and Education, vol. 15(6), pages 126-126, July.
    • Handle: RePEc:ibn:ijbmjn:v:15:y:2021:i:6:p:126
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    References listed on IDEAS

    as
    1. AbdulRaheem AbdulRasheed & Isiaka Sulu Babaita & Muhammed Abubakar Yinusa, 2012. "Fraud and Its Implications for Bank Performance in Nigeria," International Journal of Asian Social Science, Asian Economic and Social Society, vol. 2(4), pages 382-387, April(1).
    2. Tijani, J. A. & Ilugbemi, A. O., 2015. "Electronic Payment Channels in the Nigeria Banking Sector and Its Impacts on National Development," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 5(3), pages 521-531, March.
    3. Tijani J. A & Ilugbemi A. O, 2015. "Electronic Payment Channels in the Nigeria Banking Sector and Its Impacts on National Development," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 5(3), pages 521-531.
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    More about this item

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

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