THE EFFECT OF FINANCIAL CRIME ON THE GROWTH OF SMALL/MEDIUM SCALE BUSINESSES
CHAPTER ONE
Introduction
1.1 Background Of The Study
Financial crimes have been the order of the day for quite a long time especially in our society today. This phenomenon ranges from various dimensions, such as Bank fraud, embezzlement of public funds, money laundering, credit cards fraud etc. It can be described as a conscious premeditated action of a person or group of persons with the intention of altering the truth, or facts for selfish personal monetary gain.
This has been a general decease in the whole wide world and the Nigerian society has not seen spared either.
The powerful effect of crimes has on the global market has now become a source of great concern to future reasoning stakeholders profitable firms are closing businesses and innocent members of the society not guilty of a financial crime are groan with pain under the weight of a heavy debt burden and a not hopeful future.
Surprisingly, after the attack in the United States trading centre on September 11, several financial irregularities were uncovered in some major business empires with devastating effects on the global financial market or businesses.
Agbuba and Egbunike (2003:14) “At the sixth regional workshop on money laundry and financial crimes organized by West African Institute for Financial and Economic Management (WAIFEM) in Lagos, its Director General Chris Itsedo disclosed that an estimated $10 billion (N1.28 trillion) was lost yearly in the ECOWAS sub region through money laundering activities lone.
In the same vain the newly introduced ATM card is not helping situation is easily accessible to these advance fraudsters. Due to no adequate security measure which wrongly place in the system.
It is becoming very clear that financial crimes exist in our society. If not worse, it is saddening to learn that various forms of crimes or criminalities have eaten so deep into the structure of our financial institutions. This singular activities has caused a great damage in our Economy such as loss of jobs, loss of investors, loss of confidence in the financial institutions, youth no longer interested in learning or reading due to they are thinking on how to defraud and become rich over night such as some youth in Edo State today that took over leadership from elders of their time and engage on selling lands and buying cars forgetting the future of the yet on born child. These now serve as means of escape of huge sums of money from our developing economy etc.
To eradicate this phenomenon becomes difficult due to top government functionaries and unscrupulous politi9cians and other high place individuals citizens both here at home and abroad engage in these activities that made transparency international in several occasion ranked Nigeria as one of the most corrupt Nation on the planet.
Ranging from stealing public funds through non-completion of projects and some other cases work will be contracted on paper (faceless site) awarded on political basis not even executed they will share the money among themselves and possibly kill any body that come across their way.
The economy is suffering its own share of decay gradually, as a result of this sucking/outflow, which move often than not the funds are taken abroad. Million staffs of our Nation have been thrown into the labour market and many investors in our economy, have been thrown into panic as they watch their hard earned money go down the drain. The investors are now doubting the financial transparency of our financial institutions and the economy at large.
Technology of today and vast internet connectivity with just the process of pressing a button transfermillion of dollars into strange accounts. These stolen millions instead further help to endanger the life of our people. These unscrupulous individuals become highly connected, fraudulently purchase arms, cars and drove authoritatively unchallenged, kill and go away with.
1.2 Statement Of The Problem
To be kindly finance is so important, if not the most important in all aspect of any economy. On the other hand, crime is an unwanted aspect of our societies to growth. Financial crimes could therefore be likened to bringing together the tow extremes of our economy. The degree to which financial crimes occur in any society would affect the level of economic activities, which are carried out. The statements of the problems therefore are:
- What is the rate of occurrence of financial crimes in Nigeria?
- Does the existence of financial crimes actually affect our Economy Development?
1.3 Objectives Of The Study
The sole aims of this research work is to Examine the effects of the financial crimes on the growth of small/medium scale business. A study of selected transport companies in Edo State.
- To identify the rate of occurrence of financial crimes on transport companies in Edo State and its effect on the Economy growth of the state.
- To determine the government responsibilities, involvement to enhance development structure in that sector.
1.4 Hypothesis
Hypothesis is a tentative answer to a research question. It is often stated in the form of a relationship between a dependent variable and an independent variable (Yomere 1999) Topics of this nature are continuous, stating our hypothesis would give us an ending point.
The following hypotheses are formulated and are to be tested.
- Null Hypothesis: There is a low rate of occurrence of financial crimes in Nigeria.
Alternative Hypothesis: Financial crimes have affected our economic development. - Null Hypothesis: There is a high rate of occurrence of financial crimes in Nigeria.
Alternative Hypothesis: Financial crimes have affected our Economic development.
1.5 Basis For The Study
The basis for this study of the effect of financial crimes on the growth of small/medium scale businesses. A study of selected transport companies in Edo state cannot be over emphasized. The study will deal with a problem which much study has not been given too much attention. Otherwise making it new in nature. This research arms to serve as a spring board for others, who chose to dig further into the areas of financial crimes affecting growth of small/medium scale businesses in transport sector in Edo State.
The study will as well serve as a base for putting into place various procedures and policies which will assist tame financial crimes and bring it to its conclusion end.
These new orientation in nature would help to jump start our economy on this sector, re-introduce confidence and bring investors both local and international out of their hiding point.
1.6 Methodology
Data collected for the purpose of this study shall be analyzed and used appropriately where necessary in other to bring out the intrinsic value of data which is the basis of this study and conclusion drawn as information will be elicited from motor transport companies publications dissertation and thesis relevant to the study.
1.7 Scope Of The Study
This research work will concentrate on the effect of financial crime on the growth of small/medium scale businesses. A study of selected transport companies in Edo State.
1.8 Limitations
Being a relatively new area in nature where not much research has been done on the topic. I envisage this will place constraint as non-availability of important literature works and text. Due to the sensitive nature of the study of Economic development this would place a constraint to the method of analysis available for this study. High cost of sourcing for materials and time in which this study most be completed, as I am a student that is supposing oneself with little income. Despite these shortcomings, this research will aim to vigorously carry out a comprehensive analysis and empirical job on this study.
CHAPTER TWO
2.0 Literature Review
2.1 Introduction
The review of relevant literature is the main topic of this chapter. A literature review covers theoretical and methodological contributions to a certain issue in addition to the state of knowledge at the time of writing. It provides information about the state of the art in relation to the subject you are writing about. It examines the body of work on the chosen subject. The literature evaluation in this study comprises the …
Procedure for Downloading the PDF (Docx) Material
The Effect of Financial Crime on the Growth of Small/Medium Scale Businesses can be downloaded by requesting the full set of materials at the project or seminar cost. The document will be sent via Microsoft Word (MS-Word) format via WhatsApp (e-mail) following payment confirmation.
| Seminar Material Cost ₦3,000 | Project Material Cost ₦5,000 |
Request Complete Material
 | Click here to request the Complete Material via WhatsApp including;
|
TABLE OF CONTENTSPRELIMINARY PAGES
- Title page
- Approval page
- Dedication
- Acknowledgement
- Table of Contents
- Abstract
INTRODUCTION
- 1.1 Background …
- ⋮
LITERATURE REVIEW
- 2.1 Introduction
- 2.2 Conceptual Review
- 2.3 Theoretical Framework
- ⋮
- 2.4 Empirical Studies
- 2.5 Research Gaps
- 2.6 Summary of Literature Review
CHAPTER THREE
RESEARCH METHODOLOGY
- 3.1 Introduction
- 3.2 Research Design
- 3.3 Population of Study
- 3.4 Sampling and Sampling Technique
- 3.5 Validation of Research Instrument
- 3.6 Method of Data Collection
- 3.7 Method of Data Analysis
- 3.8 Questionnaire Administration
- 3.9 Ethical Consideration
- 3.10 Statistical Analysis
CHAPTER FOUR
DATA ANALYSIS, RESULT AND DISCUSSION
- 4.1 Introduction
- 4.2 Presentation and Analysis of Data
- 4.3 Re-statement of Research Questions
- 4.4 Test of Hypotheses
- 4.5 Discussion of Findings
CHAPTER FIVE
SUMMARY, CONCLUSION AND RECOMMENDATION
- 5.1 Introduction
- 5.2 Summary of Findings
- 5.3 Conclusion
- 5.4 Recommendation
- 5.5 Suggestion for Further Study
REFERENCES
APPENDIX A - “QUESTIONNAIRE”
Disclaimer for Complete Material Utilization
The displayed research work titled "The Effect of Financial Crime on the Growth of Small/Medium Scale Businesses" is stated as a research guideline towards accomplishing your assigned project / seminar research work. All the research materials on this website are ONLY for research purposes and should be used as a guideline in developing your research work. For no reason should you copy word for word as projectlist.com.ng will not be liable for any who copied the material. By ordering the complete research guideline, it signifies that you've accepted our terms of service.
PRELIMINARY PAGES
- Title page
- Approval page
- Dedication
- Acknowledgement
- Table of Contents
- Abstract
INTRODUCTION
- 1.1 Background …
- ⋮
LITERATURE REVIEW
- 2.1 Introduction
- 2.2 Conceptual Review
- 2.3 Theoretical Framework
- ⋮
- 2.4 Empirical Studies
- 2.5 Research Gaps
- 2.6 Summary of Literature Review
CHAPTER THREE
RESEARCH METHODOLOGY
- 3.1 Introduction
- 3.2 Research Design
- 3.3 Population of Study
- 3.4 Sampling and Sampling Technique
- 3.5 Validation of Research Instrument
- 3.6 Method of Data Collection
- 3.7 Method of Data Analysis
- 3.8 Questionnaire Administration
- 3.9 Ethical Consideration
- 3.10 Statistical Analysis
CHAPTER FOUR
DATA ANALYSIS, RESULT AND DISCUSSION
- 4.1 Introduction
- 4.2 Presentation and Analysis of Data
- 4.3 Re-statement of Research Questions
- 4.4 Test of Hypotheses
- 4.5 Discussion of Findings
CHAPTER FIVE
SUMMARY, CONCLUSION AND RECOMMENDATION
- 5.1 Introduction
- 5.2 Summary of Findings
- 5.3 Conclusion
- 5.4 Recommendation
- 5.5 Suggestion for Further Study
REFERENCES
APPENDIX A - “QUESTIONNAIRE”
Disclaimer for Complete Material Utilization
The displayed research work titled "The Effect of Financial Crime on the Growth of Small/Medium Scale Businesses" is stated as a research guideline towards accomplishing your assigned project / seminar research work. All the research materials on this website are ONLY for research purposes and should be used as a guideline in developing your research work. For no reason should you copy word for word as projectlist.com.ng will not be liable for any who copied the material. By ordering the complete research guideline, it signifies that you've accepted our terms of service.
Frequently Asked Questions (FAQ)
Can the material for “The Problem of Teaching and Learning of Agricultural Science in Tertiary Institutions” be used as a guide for Agricultural Economics and Extension Project?
Yes it can be used — The study scrutinized the Problem of Teaching and Learning of Agricultural Science in Tertiary Institutions using Sabon Gari Local Government as a case study. In achieving this aim, the following specific objectives were laid out to determine the effect of agricultural practices in the society on the study of Agriculture Science and assess the factors affecting the teaching and learning of agriculture in Senior High Schools in Sabon Gari Local Government. The research design used in this report is descriptive design, utilizing questionnaire method to obtain information from the respondents for this project. A total of 150 (one hundred and fifty) respondents were selected for this study to represent the entire population of the study. For null hypotheses were formulated …
Is the topic “The Impact of Motivation and Incentives on Employees Job Performance and Productivity” recommended for Business Administration and Management (BAM) Project?
Yes it is highly recommended — The success and the survival of any organization are determined by the way the employees are motivated and rewarded. The reward system and the motivating incentive will determine the level of employees’ commitment and their attitude to work. However, any organization that wants to achieve it objective as regards the research topic “the impact of motivation and incentives on employees’ job performance and productivity”. Employers must have a thorough understanding of what drives the employees have to perform efficiently and also serve as a guide in determine the most reliable and better performance. …
Can the material for “Design and Implementation of a Product Expiry Alert Management System” be used as a guide for Computer Science (CS) Project?
Yes it can be used — The Product expiration management system notifies/alerts the store manager on products expiring soon for prompt attention and decision. The aim of the study is to design and implement a Product Expiry Alert Management System. In achieving this aim, the following objectives were set out to develop the easy management of the inventory and handle the inventory details like purchase details, manufacturer details and expiration dates of Products. The motivation that led to the implementation of the proposed system is as a result of the manually taking stock of products by small scale/medium scale business owners are still prone to human errors. When consumers are exposed to expired products, they may have various health challenges ranging from stomach upsets to food poisoning. The …
Can the material for “The Role of Financial Institution towards the Development of the Maritime Industry in Nigeria” be used as a guide for Maritime and Transport Project?
Yes it can be used — Financial institutions occupy a vital position and play a lendable role in the economy of the nation. examining critically the place of financial institutions in the management of Loan syndication in the economy, loan syndication is a child of circumstances arising from legal lending restrictions, risk sharing and liquidity problems. The researcher would like to know despite the constraint prevailing is it still a supplementary option for business financing. For an economy to develop there must be a supplementary source of financing viable investment projects beyond the limits of an individual financial institution, it is on this basis that we would like to define the objectives. The research study is to include the followings to: identify those fundamental problems confronting …
Can the material for “An Appraisal of Entrepreneurship Effectiveness in Small Scale Enterprises a Key to an Industrialization” be used as a guide for Business Administration and Management (BAM) Project?
Yes it can be used — The roles that small-scale enterprises play in the growth of an economy cannot be over emphasized. This is why government, organization and individuals have placed great premium to its development. Most big business today and the world over started as a small-scale enterprise. The industrial development interested in America and south-East Asian countries can be traced to numerous small-scale enterprises. Their careful studies and investigations have revealed that in the United State, only 1/10 of 10% of the total firms in the economy employ more than 2,500 workers. The study also showed that 89% of the total firm employs less than 100 employees. Nigerians slide to industrialize is strongly dependent on effectiveness of the growing small-scale industries with particular reference …
Can the material for “Computerization of Banking Service Its Effect on the Efficiency of Banking Service in Nigeria” be used as a guide for Banking and Finance (BF) Project?
Yes it can be used — This research project work was undertaken with a purpose of determining and evaluation of the effect of computerizing banking service and its efficiency on the banking services in Nigeria. The effect of computerizing the banking services on the behavioural aspect of management information system are Aggression Avoidance and projection on the other hand, other operational pressures are maintaining the system; personal problems in the book-keeping department, maintaining book-keeping machines. Expanding volume of operation; need to accommodate the increasing volume, need to maintain or reduce cost. Unsatisfactory output; errors in terms of reports and statement delays in work processing. Needs or system change. The study has a library research and empirical study. Additional information were collected from journals bullions textbooks and newspapers etc. It …
Can the material for “Design and Construction of Electronic Display Board” be used as a guide for Electrical / Electronics Engineering (EE) Project?
Yes it can be used — Electronics display board system, is a system electronically designed and constructed, that is used to display different information to the view of the masses. The information to be displayed could be diagrams, symbols letters, colours, numbers, codes etc depending on what is needed at a particular places and time. The study was conducted to design and construct an electronic digital display board. In achieving this aim, the following specific objectives were laid out to design a system that will display “Great Nigerian students”, construct a system that will use the electronic digital display system constructed as a signpost for Federal Polytechnic, Nekede, design and realize the moving message display panel, and construct a system that will display a moveable coded …
Can this topic “Corruption in Festus Iyayi’s Violence and Femi Ademiluyi’s the New Man” be used for English Language Project?
Yes it can be utilized for research — This study examined the effect of Yoruba language on the sound system of spoken English language among the indigenous Mushin Yoruba market women in Lagos. It was to find out the features that distinguish Lagos Yoruba accent from the received pronunciation. The speech of ten selected market women from Mushin Lagos was used. Market women who were native of Mushin and who have been doing business in Lagos market were sampled. Phonological approach was adopted using snowball sampling technique. It was discovered that phonological features of Nigeria English such as substitution, under-differentiation, spelling pronunciation, epenthesis and simplification of consonant cluster were the common features found in the oral English of the samples. The English of the sample has been affected …
Can the material for “Design and Implementation of Electronic Marking of Exam Scripts” be used as a guide for Computer Science (CS) Project?
Yes it can be used — Electronic marking is a digital marking system which allows exam scripts markers to mark exam responses which have been scanned and uploaded as digital images, or online assessment responses on a computer screen, rather than on paper. The aim of the study is to Design and Implement an Electronic Marking of Exam Scripts. In achieving this aim, the following specific objectives were laid out as follows to design and develop an application software that will eliminate the manual marking process of exam script processing as it has to be done by hand and preparing results to enable them do their research work. The motivation that led to the implementation of the proposed system is as a result of the manual …
Can the material for “Training and Workers Performance in Nigeria Public Service” be used as a guide for Public Administration (PA) Project?
Yes it can be used — Training workers is the basis of all resources use and it is the indispensable means of converting other resources to man kind’s use and benefits. The study was carried out to examine the Training and Workers Performance in Nigeria Public Service using Anambra State Ministry of Works Awka as a case study. In achieving this aim, the following specific objectives were laid out to assess employees perception of gains on training and development, and its contributions to individuals and corporate organization, and identify major problems facing training and manpower development in Anambra State Ministry of Works Awka; and suggest possible solutions for solving the problems. Investigation revealed that man power development in every organization because of the improvement in the …