International Journal of Research and Innovation in Social Science (IJRISS) |Volume VI, Issue X, October 2022|ISSN 2454-6186
Information Technology and Public Sector Fraud in Nigeria
Olajire Aremu Odunlade, Folajimi Festus Adegbie, Oluwatoyosi Tolulope Olurin
Department of Accounting, Babcock University, Ilisan-Remo, Ogun State, Nigeria
Abstract: Information technology has transformed significantly financial transactions across the globe. This coupled with globalization has made it easy to transfer money to any account in different parts of the world. The study focused on Information Technology and Fraud in the public sector in Nigeria. The study adopted survey design research method for the purpose of achieving its objective. A sample size of 420 respondents was purposively selected from both the private and public sectors in Nigeria. The study made use of primary data collected through the use of questionnaire. A Cronbach alpha of 0.834 was obtained for the validity and reliability of the questionnaire used to collect the primary data. The data were analyzed using descriptive and inferential statistical methods.
The results obtained showed that Information technology had a significant effect on Fraud in the public sector in Nigeria. PUBFRAUD (F1,304) = 105.720. The P-value associated with the F-value as shown in the significant column is 0.000, this is less than 0.05 indicating that there was a significant relationship between the Information technology and Public Sector Fraud in Nigeria. Adj R2 = 0.256.The Coefficient of the independent variable β = 0.574, shows that information technology had a positive and significant effect on Public Sector Fraud. PUBFRAUD (t(10.282) = 000, p<0.05). The study, therefore concluded that, there exists a significant relationship between fraud in the public sector in Nigeria and information technology
Keywords: Fraud, Information Technology, Public Sector,
I. INTRODUCTION
Information Technology contributes significantly to the effectiveness and greater integration of world financial markets.
Information technology includes any communication devices such as cellular phones and computer hardware connected to the internet which are used to make Electronic Fund Transfers (EFF). EFT refers to the electronic transfer of money from one bank account to another. This could be done within a bank or across a number of financial institutions in the world without the involvement of bank staff. Advanced information technology has made it possible to transfer money from one country to another by a mere click of a computer mouse button. As a result of this, money obtained in an illicitly manner from the government account can be transferred to any account across the globe. The most prominent of EFT is the wire transfer and transfer using Automatic Teller Machine.
Over the years, government annual expenditures have been on the increase but without a corresponding improvement in the welfare of Nigerians (Chikwado, 2021). This has been