ABSTRACT

The objective of the study was to examine the relationship between fraud control mechanisms and fraud deterrence in Nigerian banks.

This work made use of descriptive survey research design to get information from the sampled respondents selected for the study. The population consists of head of human resource, head of internal control, head of general ledger department, auditor’s department and head of analysis and statistical department in all the commercial banks listed on Nigerian Stock Exchange as at year 2019. There are many of them in this category. Hence, a random sampling was applied to select a total staff of 100. The study employed Ordinary Least Square method of analyzing data.

Extravagant Lifestyles Background Information Check had a positive relationship with fraud deterrence it was also found to be statistically significant at 5% two-tailed significance level. Training the Hirers had a positive relationship with fraud deterrence it was also statistically significant at 5% level of significance. Tone at the Top had a positive relationship with fraud deterrence but not significant when tested at the threshold value of 5%. Segregation of Duties had a positive relationship with fraud deterrence. It was also found to be statistically significant at 5% critical level. The study recommends that the time frame and sample size could be increased in order to cover more longer time frame and more representative sample size in order to enhance the quality of the results, and also, more variables of a technical nature that impinge directly on fraud deterrence measurement could also be introduced into the model for more robustness.