Editorial Board


Professor Rafiu Oyesola Salawu

Department of Management & Accounting, Faculty of Administration, Obafemi Awolowo University, Ile-Ife

Managing Editor

Professor Godwin Emmanuel Oyedokun

Department of Management & Accounting, Lead City University, Ibadan, Nigeria

Editorial Board Secretary

Mary-Fidelis Chidoziem Abiahu

Director, Research and Professional Standard, Chartered Institute of Taxation of Nigeria

Editorial Board Members

Professor Chinedum Nathaniel Nwezeaku

Federal University of Technology, Owerri

Professor John Adeoti

Nigeria Institute of Social and Economic Research (NISER), Ibadan

Professor Uche Jack-Osimiri

Faculty of Law, River State University, Port Harcourt

Professor Aruwa Suleiman Akwu-Odo Salihu

Nasarawa State University, Keffi Nasarawa State Nigeria

Dr. Eiya Ofiafoh Ofiafoh (Associate Professor)

Department of Accounting, University of Benin, Benin City, Nigeria

Dr. Stephen Chukwuemeka Mark Abani

MCSA Worldwide Projects Limited, Abuja, Nigeria

Dr. Kenny Adedapo Soyemi

Department of Accounting, Olabisi Onabanjo University, Ago Iwoye, Ogun State, Nigeria

Professor Joseph Uchenna Uwaleke

Department of Banking & Finance, Nasarawa State University, Keffi Nasarawa State, Nigeria

Barrister Chukwuemeka Eze

Faculty of Law, Nasarawa State University, Keffi Nasarawa State, Nigeria

Mr. Simon Nwanmaghyi Kato

Federal Inland Revenue Service, Chairman’s Office, Abuja, Nigeria

Issue 1, March 2022




Godwin Emmanuel OYEDOKUN and Oluwatobiloba Oreoluwa DUROWAIYE


Banks serve as an indispensable part of the financial system, performing a crucial role in intermediation which results in a flow of financial resources in an economy. However, the recurring nature of fraud has hindered the effective performance of Deposit Money Banks (DMBs) in Nigeria. The general objective of this study is to assess the effectiveness of forensic tax audits as a panacea for preventing fraud in Nigerian Deposit Money Banks. The survey research method was adopted in this study. The sampling technique used for the study was simple random sampling. Data were collected using both primary and secondary sources. Regression analysis was used in testing the research hypothesis. Based on the findings of the study, it is concluded that forensic audit taken as the independent variable significantly affects fraud prevention by the regression model which shows a good level of prediction and that 77.9% change in fraud prevention is caused or predicted by forensic audit. Therefore, the variable added significantly to the prediction of fraud prevention, meaning that forensic audit and fraud prevention are positively correlated. The study recommends that the management of deposit money banks should undertake regular forensic audits of their operations to effectively prevent fraud that is currently bedeviling the Nigerian financial sector.