EFFECT OF FORENSIC ACCOUNTING ON ANTI-FRAUD STRATEGIES IN ECONOMIC AND FINANCIAL CRIMES COMMISSION (EFCC)

This study investigates the effect of forensic accounting on anti-fraud strategies within the Economic and Financial Crimes Commission (EFCC). Specifically, it examines the impact of forensic accounting on fraud prevention and detection strategies. Two research questions and four hypotheses were formulated and tested at a 0.05 level of significance. Adopting a descriptive survey design, the study was conducted in Abuja, Nigeria, targeting EFCC staff. A population of 534 staff members, a sample of 228 was selected using convenience sampling. Data were analyzed using mean scores to answer the research questions, while hypotheses were tested using Structural Equation Modeling (SEM). Findings revealed a high effectiveness of forensic accounting in fraud prevention (mean = 3.52) and fraud detection (mean = 3.56). Moreover, forensic accounting was found to have a significant effect on both fraud prevention and detection strategies employed by the EFCC. The study recommends that the EFCC integrate advanced technologies such as artificial intelligence, blockchain, and predictive analytics into its forensic accounting processes. Additionally, ongoing training and capacity-building initiatives should be prioritized to equip personnel with the necessary forensic skills.