IMPACT OF FRAUD ON PERFORMANCE OF DEPOSIT MONEY BANKS IN NIGERIA

The objective of the study is to examine the impact of fraud on performance of deposit money banks in Nigeria. The study adopted the ex post factor research design, descriptive and data was gotten from annual reports of NIDIC from the period of 2006-2022. Descriptive analysis was used to summarize the data while the ordinary least squares was used to draw inference on the phenomenon studied. The result from the inferential statistics revealed that total Fraud Amount has no significant influence on performance of deposit money banks in Nigeria. Secondly, it was found that number of reported cases of fraud has positive and significant effect on performance of deposit money banks in Nigeria. Thirdly, the study found that total number of bank staff involved in fraud has no significant impact on performance of deposit money banks in Nigeria. The study came to the conclusion that number of reported cases of fraud has positive and significant effect on performance of deposit money banks in Nigeria. While total fraud amount and number of bank staff involved in fraud has no significant impact on the performance of deposit money banks in Nigeria. In line with findings the study, it was recommended that banks should always publish cases of fraud to boost the shareholders confidence in the banks, so as to improve the performance in form of deposit.