Economic and Financial Crimes in Nigeria:Forensic Accounting as Antidote

Economic and Financial Crimes in Nigeria:Forensic Accounting as Antidote

Author by Dr. Folajimi Festus Adegbie

Language: English

Abstract

British Journal of Arts and Social Sciences,UK ,May 2012 Volume 6 Number 1 pp.37-50. Corruption and other financial and economic crimes are the bane of Nigerian development efforts. All these crimes harm Nigerian economy in no small measure. We observe the non-availability of the appropriate litigation support services in the court leading to misjudgment, poor corporate governance, weakness in traditional auditing and battered image of Nigeria in international community as major problems. The objective of this paper is to evaluate forensic accounting as antidote to economic and financial crime in Nigeria. The paper is empirical with the testing of four hypotheses. The statistical model applied is Chi-Square and Statistical Package for Social Statistics (SPSS) was applied to compute the data. The results show that Forensic Accounting is a financial strategy to curb and resolve economic and financial crimes in Nigerian economy. The alternate of the four hypotheses were accepted. We recommend among others that the government of Nigeria should enact an Act that will make forensic accounting a practice in Nigeria so that economic and financial crimes can become history.


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