Financial Crime And Its Implications On Nigeria’s Social Image

Abstract

Financial crime has eaten deep into the fiber of Nigeria’s social status. A country is economically, socially and environmentally secured when it financial crimes level is at barest minimum. In spite of government efforts to reduce financial crimes through it established agencies, not much has been achieved as the trend of crime in Nigeria sporadically increased. This review explored the social effects of financial crime in the light of recent financial insecurity experienced in the country with the primary aim of exploring its causes and possible ways of controlling the menace in Nigeria. The study observed among others that the rise in the rate of financial Crime earned Nigeria disputable image both locally and internationally, and that vulnerability of institution's internal structure and rule of law could decoy financial crime tendencies. Therefore, the security of territorial integrity and effective resources' control measures in enhancing the growth and dignity of Nigeria’s social, economic and political image should be taken much more seriously than before by all stakeholders.