ABSTRACT: The study is concerned with an investigation into fraud and financial malpractices as a leading factor in business failure and eventual liquidation. A case study of Nigerian Telecommunication Limited (NITEL). By way of background, the study commenced with an overview of the business environments and its effects on business growth and survival. Using NITEL as a case study, it was established that inspite of its privatization, NITEL is still saddled with the problem of bad image arising mostly from fraudulent practices.
With the above stated problem, the specific objectives of the study were:
1. To ascertain why NITEL Plc is still saddled with problem.
2. To determine whether there is significant weakness in NITEL internal control system.
Data collected were analysed using weighted mean and ranking order. Major findings of the study were:
(i) The study revealed that the NITEL is unable to achieve its objective
(ii) It was also revealed that fraud and financial malpractices was the most important factors that has contributed poor performance of NITEL.
At the end, the following recommendation were made:
(i) NITEL management should design appropriate policies.
(ii) The organisation should also strengthened its internal control system.
LIST OF TABLE
TABLE OF CONTENTS
CHAPTER ONE
Introduction 1
CHAPTER TWO
Review Of Literature 9
CHAPTER THREE
Research design and Methodology 30
CHAPTER FOUR
Data Presentation And Results 37
4.1 Research question 1 37
4.2 Research question 2 40
4.3 Research question 3 42
4.4 Research question 4 45
4.5 Summary of findings 47
CHAPTER FIVE
Discussion Of Results, Conclusion, Implication Of Findings 49
References 55
Appendix 57
CHAPTER ONE
INTRODUCATION
Fraud is irregularities involving the use of criminal to obtain and against illegal advantage.
Fraud involving the manipulation of the record and the accounts, usually by the company’s senior officers, with a view to benefiting in some way from the false picture which they convey (eg obtaining finance under false pretences, or concealing a material worsten of the company’s true position)
Frauds, usually by employees, involving the theft, misappropriation or embezzlemen
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