FACULTY OF MANAGEMENT SCIENCE

The study examined the effect of auditing practices on fraud prevention in the Nigerian
banking sector, adapting the model of Internal Control System and Fraud Prevention of
Quoted Financial Services Firms in Nigeria: A Smart PLS-SEM Approach (Ogwiji &
Lasisi, 2022) as its conceptual framework. The study focused on how internal control
systems, fraud risk assessment, control testing, and substantive testing influence fraud
prevention among Deposit Money Banks. A survey research design was adopted, and
data were collected through structured questionnaires administered to 384 respondents
across the Nigerian banking industry. The data were analyzed using descriptive statistics, correlation, and Ordinary Least Squares (OLS) regression. Results revealed that all four
auditing dimensions had significant positive effects on fraud prevention, with substantive
testing showing the strongest influence. The regression model (R² = 0.734, F = 159.386, p
< 0.05) confirmed that auditing practices collectively explained 73.4% of the variation in
fraud prevention. The study concludes that effective auditing mechanisms are essential
for reducing fraudulent activities and enhancing financial integrity in Deposit Money
Banks, and recommends strengthening internal controls, continuous risk assessments, technology-driven audit processes, and auditor independence to ensure sustainable fraud prevention in Nigeria’s banking sector

This study investigated the impact of digital transformation on business performance among Micro, Small, and Medium Enterprises (MSMEs) in Benin City, Edo State, Nigeria. The research focused on four dimensions of digital transformation: operational transformation, customer experience transformation, organisational culture and workforce transformation, and product and service innovation. A structured questionnaire was administered to 290 MSMEs, of which 267 valid responses were analysed using descriptive and inferential statistics through SPSS version 22. The findings revealed that operational transformation and customer experience transformation had significant positive effects on business performance, indicating that MSMEs that digitise internal processes and customer engagement platforms experience enhanced productivity and competitiveness. Conversely, organisational culture and workforce transformation, as well as product and service innovation, showed no statistically significant impact on business performance. Based on these findings, the study recommends that MSMEs in Benin City increase investment in workforce digital upskilling, cultivate innovation-friendly organisational cultures, and strategically prioritise digital innovation in product and service delivery. The research contributes to the body of knowledge by providing empirical evidence on how various aspects of digital transformation influence MSME performance in an emerging market context.

This study investigated the effect of digital payment systems on the profitability of deposit money banks in Nigeria using quarterly time-series data from 2012Q1 to 2022Q4. Five electronic payment channels such as Automated Teller Machines (ATM), Point of Sale (POS), Web payment platforms, Mobile payment systems, and NIBSS Electronic Fund Transfer (NEFT) were examined. The Fully Modified Ordinary Least Squares (FMOLS) technique was employed to estimate the long-run relationship between digital payment adoption and bank profitability. The empirical findings revealed that ATM and Web payment transaction values exerted a statistically significant and positive influence on bank profitability. In contrast, POS, Mobile payment, and NEFT transaction values showed no significant long-run effect on profitability during the study period. These results suggest that while some digital channels have matured into profit generating platforms, others remain operationally essential but financially under-optimized. Based on the findings, the study recommends that banks strengthen and expand ATM and Internet banking infrastructure to sustain profitable digital operations. In addition, banks should re-evaluate fee structures, improve service reliability, and increase merchant and customer adoption of POS and mobile payment platforms to unlock profitability potential. Collaboration with regulators and payment stakeholders is also essential to enhance NEFT efficiency, reduce operational costs, and support wider digital financial ecosystem stability. Overall, a balanced multi-channel digital strategy is crucial for long-term profitability and competitive resilience in Nigeria’s evolving financial technology landscape