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How forensic accounting can stem Nigeria’s N2.5 trillion yearly fraud loss

How forensic accounting can stem Nigeria’s N2.5 trillion yearly fraud loss

Business
The Society for Forensic Accounting & Fraud Prevention (sfafp) has revealed that Nigeria loses N2.5 trillion yearly to fraud and corruption. For the African continent, the society stated that almost 25 per cent of its budgeted public sector revenue is lost to the same scourge. Speaking during the 4th virtual induction of 192 associates recently in Abuja, Chairman, Iliyasu B. Gashinbaki said the society is poised to turn the page by refocusing on continuous institutional strengthening and capacity building of law enforcement agencies and key Ministries, Departments and Agencies (MDAs). “In addition, more strategic domestic and international partnerships shall be pursued and we will continue to build the capacity of SMEs and Corporations in the areas of internal control processes...