Fraud Examiners Tasked on Ethical Investigations 

Omolabake Fasogbon

Fraud examiners in the country have been charged on ethical conduct while investigating so as to simplify efforts and drive efficiency. 

At the same time, government authority and businesses have been encouraged to embrace holistic approach and be intentional in combating fraud to prevent and mitigate incident. 

Speaking at 7th National Conference of the Association of Certified Fraud Examiners (ACFE) in Lagos, recently, Chairman, OGE Professional Service, Prof. Godwin Oyedokun, described financial fraud as a complex situation requiring multi-faceted approach and a comprehensive strategy involving systemic changes. 

According to anti-corruption agencies in Nigeria, the country loses almost $18 billion to illicit financial crimes every year.

In a lecture titled, ’Setting up Fraud Investigation Practice and Conduct,’ Oyedokun identified dangers of fraud as undermining trust and integrity of nations and businesses, in addition to losses, stressing ethically guided investigation.

He averred that effective fraud fighting would involve legal frameworks, institutional capacity-building, technological advancements, public awareness campaigns, and international cooperation.

“Setting up a robust fraud investigation practice is critical in confronting fraud challenges. Investigating fraud however goes beyond procedural framework, it necessitates steadfast commitment to ethical conduct at every stage involved,” he said. 

Noting progress in the efforts of Nigeria’s to investigate fraud, he identified rooms for improvement. 

“Combating fraud remains a complex challenge in Nigeria, and there are ongoing concerns regarding the effectiveness of anti-fraud efforts. Some of which include need for improved coordination among agencies, corruption within investigative bodies, limited resources, and the sophistication of fraudulent activities.

“There is need for governments, law enforcement agencies, and regulatory bodies to work together to improve investigative techniques, enhance legal frameworks, and provide adequate training and resources to combat fraud effectively,” he said.