CORPORATE ORGANIZATIONS IN NIGERIA

Nwadighoha, Chinedum Ephraim

Department of Accounting,

Michael Okpara University of Agriculture, Umudike Abia State, Nigeria.

Email:chinedumnwadighoha@yahoo.com

ABSTRACT

This study is an expo facto research, which examined the effect of fraud on corporate organizations in Nigeria using secondary data from twenty two (22) listed firms in the Nigeria stock exchange. Three hypotheses were formed in line with the three specific objectives. The three hypotheses were tested using multi regression analysis with a computer based statistical model with the aid of econometric (E-view) version 3.1. The findings of the study showed that the amount lost to fraudsters has a strong and positive relationship with the asset depletion of corporate organizations in Nigeria, it reduces the profit of the corporate institutions and the cost of litigation to recover the amount defrauded are not always proportionate to the amount recovered. The following recommendations were made, institutionalization of strong and workable internal control measures, zero tolerance for incidences of fraud and preventive mechanisms are the best approach to avoid creating opportunities for fraudsters and incurring additional cost of litigation to recover amount stolen by fraudsters.Keywords: Corporate Organizations, Fraud Prevention, Detection, Investigation, and Litigation.