The Impact of Forensic Accounting on Fraud Detection and Prevention in Nigerian Commercial Banks: A Study of Selected Banks in Rivers State

The menace of financial fraud in Nigerian commercial banks has continued to grow at an alarming rate, costing the banking sector billions of naira annually and eroding public confidence in financial institutions. This study investigates the impact of forensic accounting on fraud detection and prevention in selected commercial banks operating in Rivers State, Nigeria. Specifically, the study examines how forensic accounting techniques — including financial statement analysis, digital forensics, and investigative auditing — are being deployed by banks to identify and curtail fraudulent activities. The study adopts a descriptive survey research design. Primary data will be collected through structured questionnaires administered to accounting officers, internal auditors, and compliance staff of five selected commercial banks in Port Harcourt. Secondary data will be sourced from annual reports, Central Bank of Nigeria (CBN) publications, and relevant academic literature. Data collected will be analysed using mean scores, standard deviation, and regression analysis with the aid of SPSS. Findings from this study are expected to reveal that forensic accounting has a significant positive effect on reducing fraud incidences in commercial banks, though its full potential remains underutilised due to inadequate trained personnel and weak institutional frameworks. The study recommends that banks should invest more deliberately in forensic accounting units and that the CBN should make forensic audit a mandatory regulatory requirement. This research contributes to the growing body of knowledge on financial crime management in Nigeria's banking sector and offers practical insights for policy formulation.

KEYWORDS
Forensic Accounting, Fraud Detection, Commercial Banks, Financial Crime, Rivers State