The Roles of Auditors in Fraud Detection and Prevention in Nigeria Deposit Money Banks: Evidence from Southwest

This study examined the impact of auditors captured by risk assessment, system audit and verification of financial report on banking fraud control in Southwest Nigeria. The study employed survey design in which a set of questionnaire was administered on the selected banks in Southwest Nigeria. Multiple regression technique and ANOVA were used for the analysis. The results indicated that the level of fraud control in Nigerian banks during the period covered was low; the result revealed that risk assessment management, system audit and verification of financial reports adopted by the banking industry in Southwest Nigeria limit the fraudulent activities among the Nigerian banks by 35, 13 and 18 percent respectively; the results also showed that audit roles captured by risk assessment, system audit and verification of financial reports were statistically significant in determining the fraudulent act in banking industry in Nigeria as revealed by (Tcal 4.446, 2.251 and 3.708 ˃ Ttab (141) = 1.684). Based on the findings, the study concluded that risk assessment, system audit and financial report verifications are carried out to determine the effectiveness and impact of auditors on fraud control in Nigerian banks which reveals that auditors’ roles need to be improved to enhance fraud control in banking industry. The study recommended that auditors should increase the scope of their activities on the efficiency of banks internal control system, risk assessment and system audit as this will enhance the detection of fraudulent activities. Also, management of banks should ensure strict compliance with their respective internal control system

Kinetics, Isotherms and Thermodynamics Studies of Sorption of Cu2+ onto Novel Zerovalent Iron Nanoparticles

A novel nanoscale zerovalent iron (nZVI) is an effective adsorbent forscavenging inorganic and organic toxicants. nZVI was synthesized in a single potsystem using bottom-up approach and were characterized by BET, SEM, EDX andFTIR. In this study, sorption of Cu2+ onto nZVI was carried out vis-à-vis theinvestigation of physicochemical parameters (initial metal ion concentration, pH,temperature, adsorbent dose) at 298 K. The sorption data obtained at optimumconditions were subjected to six different isotherm models (Langmuir, Freundlich,Temkin, Dubinin-Raduskevich (D-R), Halsey and Harkin-Jura). However, theequilibrium sorption data were best described by both Langmuir and Temkin isothermmodels with Langmuir maximum monolayer coverage (Qmax) of 40.816 mg/g andregression correlation value (R2 > 0.96) supporting a chemisorption mechanism. Pseudofirst-and second-order, Elovich, fractional power and intra-particle diffusion modelswere applied to the adsorption data in order to investigate the kinetic process; pseudosecond-order fitted the data most. The intra-particle diffusion model suggested that theintra-particle diffusion was one of the rate-limiting steps. The values of the Gibbs freeenergy showed the feasibility and spontaneity of the sorption process. The removalefficiency of Cu2+ (> 98%) onto zerovalent iron nanoparticles revealed that nZVI is apromising and efficient adsorbent that can be utilized by industries on a large scale forwaste treatment.Keywords: Zerovalent Iron nanoparticle; Sorption; Isotherms; Kinetics andThermodynami

Analysis Of Frauds In Banks: Nigeria’s Experience

This paper assesses the nature, causes, effects, detection and prevention measure for bank frauds in Nigeria. The methodology employed for data collection is only primary source, which involved the use of questionnaires, in which 100 questionnaire were administered to the selected bank staff, out of which only 92 questionnaires were completed and returned. Also this study make use of Nigerian Deposit Insurance Corporation (NDIC) annual reports for data relating to total amount involved in frauds and forgeries, ten banks with the highest fraud cases and categories of bank staff involved in frauds and forgeries. The paper concludes that in the fight for the prevention of fraud, banks should have in place sound/effective internal control mechanism/checks and balances and provide adequate remuneration and reward for excellence and good conduct while the incessant and periodic downsizing of bank staffs should be discouraged. There should be steadfastness in punishing offenders and adoption of zero tolerance to corruption. The society should imbibe cultural value system of treating fraudsters with contempt. Keywords: fraud, detection, prevention, NIDC, management fraud, Insiders fraud, KYC, SA

Formal Education and Forensic Accounting Development in Nigeria

This study examined formal education and forensic accounting development in Nigeria with cross-sectional survey design as its research strategy. Questionnaire administered on relevant accounting students and responses analysed with both Pearson product moment correlation and multiple regression. Findings indicated that significantly relationship existed between formal educations, methods (traditional, classical and modern) of integrating forensic accounting into accounting curriculum and forensic accounting development in the country with 0.625, 0.618, 0.639 and 0.521(P-value<0.05) respectively. Also, there is a significant effect of formal education and methods (traditional, classical and modern) of integrating forensic accounting into accounting curriculum of 43.6%, 8.1%, 49.5% and 14.7% (p-value<0.05) respectively on forensic accounting development in Nigeria. Formal education is vital to the development of forensic accounting practices in Nigeria. Academicians and practitioners should regularly update their knowledge on forensic accounting in terms of research and developmental courses so as to ensure continual development of forensic accounting practices in the country. Classical methods should be used by academic institutions in the introduction of forensic accounting into academic curriculums as it indicated the highest impact on forensic accounting development among the three methods of integrating a course into the curriculum

Effect of Total Quality Management (TQM) on the Non-Financial Performance of Hospitals in Ekiti State

This study examined the effect of TQM on the non-financial performance of hospitals in Ekiti State, Nigeria. The study adopted a descriptive survey design and the population for this study covered all the 4371 staffs of public Tertiary Institutions in Ekiti State. Using Taro Yamane formula (1967), the sample size for this study was 367 workers. A self-structured questionnaire was used to elicit the needed information from the sampled respondents. The data were analyzed using multiple linear regression. It was discovered that customers focus, employee involvement and supplier partnership exert a positive but insignificant effect on the treatment outcome of hospitals in Ekiti State. Also, the result revealed that management commitment and training have a positive and significant effect on the treatment outcome of hospitals in Ekiti State. Also, the study revealed that customer focus, management commitment, employee involvement, supplier partnership and training exert a positive and significant effect on the increased patronage of hospitals in Ekiti State, Nigeria. Thus, the results suggest that the management should initiate total quality management initiatives that network the entire organization regularly to attain and sustain high-quality standards and meet customer needs and expectation. Keywords:Total Quality Management, Total Quality Management Practices, Non-Financial Performance treatment outcome, Increased Patronage, Customers Focus, Employee Involvement, Supplier Partnership DOI: 10.7176/RJFA/12-10-02 Publication date:May 31st 202

Kinetics, mechanism, isotherm and thermodynamic studies of liquid phase adsorption of Pb2\mathplus onto wood activated carbon supported zerovalent iron (WAC-ZVI) nanocomposite

The kinetics, mechanism, isotherm, and thermodynamics of adsorption of Pb2+ onto wood-activated carbon-supported zerovalent iron (WAC-nZVI) nanocom- posite was successfully studied. WAC-nZVI was characterized by a combination of spectroscopic and analytical techniques (BET, PZC, FTIR, SEM, and EDX). BET surface area was 101.50 m 2/g and BJH Adsorption average pore diameter 116.73 Å. The adsorption of Pb2+ studied in batch process depends on various operational param- eters ranging from effect of pH to ionic strength. Kinetics data were best described by pseudo-second-order model based on high initial adsorption rate, h2 (166.67 mgg −1 min−1 ) and correlation coefficient (R2 > 0.99). The mechanism was controlled by both external and intraparticle diffusion models confirmed by Bangham and Boyd models. Equilibrium data were fitted to seven isotherm models. The Langmuir monolayer adsorption capacity (77.52 m2 /g) surpassed those previously investi- gated for adsorption of Pb2+ onto nanoadsorbents. Validity of kinetics and isotherm models was studied using three statistical models. Post-adsorption characteriza- tion by SEM, EDX, and FTIR confirmed the presence of Pb2+ on the loaded-WAC-nZVI

Kinetics and Thermodynamics of Adsorption of Rhodamine B onto Bentonite Supported Nanoscale Zerovalent Iron Nanocomposite

Bentonite clay supported nanoscale zerovalent iron (BC-nZVI) composite was successfully prepared. BC-nZVI was characterized by physicochemical and spectroscopic techniques. Surface area as determined by sear’s method is 291.2 cm2 . Adsorption operational parameters were investigated in a batch technique. At 500 mg/L initial concentration, 120 minutes contact time and pH 3, 454.81 mg/g quantity was adsorbed. The highest adsorption percentage removal efficiency was obtained at room temperature. Kinetic data fitted best to pseudo second order and the mechanism was diffusion governed. The kinetic models were further validated by sum of square error (SSE) and non-linear Chi-square statistical models (X 2). The values of the thermodynamic parameters: standard enthalpy change ΔH (- 10.597 Jmol -1 )to (-5558 Jmol -1.), standard entropy change, ΔS (-277.804 J mol -1 K -1 )- to (-139.2595 J mol - 1 K -1) and the Gibbs free energy (ΔG) revealed that the adsorption process was feasible, spontaneous and exothermic in nature. The performance of BC-nZVI enlisted it as a great potential adsorbent for effective removal of Rhodamine B and therefore recommended for application in industrial effluent treatment

Exploring the Effect of Operational Factors and Characterization Imperative to the Synthesis of Silver Nanoparticles

The synthesis and application of silver nanoparticles are increasingly becoming attractive. Hence, a critical examination of the various factors needed for the synthesis of silver nanoparticles as well as the characterization is imperative. In light of this, we addressed in this chapter, the nitty-gritty on the operational parameters (factors) and characterization relevant to synthesis of silver nanoparticle. The following characterization protocols were discussed in the context of silver nanoparticle synthesis. These protocols include spectroscopic techniques such as ultraviolet visible spectroscopy (UV –Vis, Fourier transform infrared spectroscopy (FTIR), scanning electron microscopy (SEM), transmission electron microscopy (TEM), energy-dispersive X-ray spectroscopy (EDX), X-ray fluorescence (XRF), X-ray diffraction (XRD), thermogravimetric analysis (TGA) and X-ray photoelectron spectroscopy (XPS)

Kinetics and isotherm modeling of adsorption of rhodamine B dye onto chitosan supported zerovalent iron nanocomposite (C-nZVI)

The kinetics and isotherm modeling of adsorption of Rhodamine B (RhB) Dye onto chitosan supported zerovalent iron nanocomposite (C-nZVI) was successfully studied in a batch technique. The quantity adsorbed increased with increase in initial concentration from 49.33 mg – 242.37 mg for 200 ppm to 1000 ppm and high percentage removal efficiency (%RE) of 99.72% attained at 90 minutes contact time. Equilibrium data were analyzed by six isotherm models: Langmuir, Freundlich, Temkin, Dubinin-Kaganer-Raduskevich (DKR), Redlich-peterson and Halsey isotherm model. Equilibrium data best fitted to Freundlich isotherm supported by Halsey isotherm model. Langmuir monolayer adsorption capacity (256.41 mg/g) of C-nZVI obtained greater than most adsorbent reported for adsorption of RhB. The mean adsorption free energy, E per molecule evaluated from DKR model was less than 8 KJmol -1 indicating a physisorption mechanism. The kinetic data best fitted to pseudo second-order kinetic model as validated by sum of square error (SSE) statistical model and the mechanism controlled by pore dif usion. The study revealed the great potential of C-nZVI for ef ective removal of RhB dye. C-nZVI is therefore recommended for civic and industrial ef luents treatment

Exploring the Effect of Operational Factors and Characterization Imperative to the Synthesis of Silver Nanoparticles

The synthesis and application of silver nanoparticles are increasingly becoming attractive. Hence, a critical examination of the various factors needed for the synthesis of silver nanoparticles as well as the characterization is imperative. In light of this, we addressed in this chapter, the nitty-gritty on the operational parameters (factors) and characterization relevant to synthesis of silver nanoparticle. The following characterization protocols were discussed in the context of silver nanoparticle synthesis. These protocols include spectroscopic techniques such as ultraviolet visible spectroscopy (UV–Vis), Fourier transform infrared spectroscopy (FTIR), scanning electron microscopy (SEM), transmission electron microscopy (TEM), energy-dispersive X-ray spectroscopy (EDX), X-ray fluorescence (XRF), X-ray diffraction (XRD), thermogravimetric analysis (TGA) and X-ray photoelectron spectroscopy (XPS)