ABSTRACT

 The establishment of EFCC was hinged on reducing the prevalence of fraud and other financial crimes in Nigeria. The basic assumption was that creation of the commission would strengthen the effectiveness of the internal control system of banks. This study examined the effect of EFCC performance on fraud control in Nigeria banks from 2008 to 2017. Two hypotheses formulated for the study was tested using the ordinary least square multiple regression analysis at 5% significance level and was computed with the aid of Eviews statistical software package. The empirical result revealed that EFCC operations have significantly reduced the number of fraud cases in Nigeria banks. It was equally revealed that EFCC operations have significantly curbed the total amount lost to bank in Nigeria banks. The F-statistic value of 63.307 with Durbin Watson statistic of O.997 indicates that the overall regression model is significant. This brings to the final conclusion that EFCC performance have significantly effected on fraud control in Nigeria banks. This study hereby recommends that the Economic and financial crimes commission (EFCC) and other related agencies like the ICPC should be strengthened and re-strategize their efforts towards combating financial and economic crimes especially bank related frauds so as to curb the evil trend of financial maipractices in the banking sector. This will enhance smooth operations of Nigeria banks and promote local investment for tangible economic growth.