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Business news

Experts blame wrong appointments for fraud
Posted on December 06, 2015

Experts blame wrong appointments for fraud

Experts have condemned the practice of wrong delegation of role in work place environment which is said to be the order of the day in both the public and private sectors.
Speaking at a one day seminar organised by Association of Certified Fraud Examiners, ACFE, Lagos Chapter, Prof. Enyi Patrick, Dean, School of Management Science, Babcock University, pointed out that despite concerted efforts at checking the menace of fraud in the country, it was still deeply enmeshed in fraudulent activities.

As a way out, the don suggested “There should be a conscious effort by both  Government and organisations to strengthen the internal control system away from this, they should be wary of the calibre and capacity of individuals that are been appointed to head different portfolio”.
Explaining further, he said both the government and owners of private businesses were guilty of placing a square peg wrongly in a round hole in terms of delegating duties.
“This is the genesis of fraud .When someone who has little or no experience about a role is appointed for such role, such a person will be inefficient and may be taken for granted by dubious colleagues or workers”, he explained.


He added that the greatest challenge of eliminating fraud in the country was the inability of the government to put preventive measures in place. He said, “What is common in Nigeria is clearing with little   effort on preventive measures to guard against future occurrence. Clearing without proper preventive technique only solves the problem superficially. This is why we have devoted a lot of time to lecture the participants on how they can effectively clear and prevent fraudulent activities in their organisations so as to root the menace off the system completely “.

In the same vein, President of the Association, Godwin Oyedokun, called on leaders in private and public sectors, as well as the law enforcement agents to take proactive steps in checking fraudulent acts, noting that it was wiser to embark on investigation even before any suspicious traces.

ACFE is a non-profit making body established with a mission to reduce the incidence of fraud in the country as well as white-collar crime and to assist in educating on fraud detection and deterrence.