Evaluation Of Financial Abuse In The Public Sector Of Nigeria (A Case Study Of The Federal Inland Revenue Service (FIRS))

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Evaluation Of Financial Abuse In The Public Sector Of Nigeria (A Case Study Of The Federal Inland Revenue Service (FIRS))


Abstract


This study was carried out to examine financial abuse in the public sector of Nigeria using federal inland revenue service (FIRS) Abuja, as a case study. The study was specifically carried out to examine the extent of financial abuse in the Federal Inland Revenue service, Abuja, examine the forms of financial abuse in Federal Inland Revenue service, Abuja, find out the factors contributing to financial abuse in Federal Inland Revenue service, Abuja, and ascertain the impact of financial abuse on the performance of Federal Inland Revenue service, Abuja. The survey design was adopted and the simple random sampling techniques were employed in this study. The population size comprise of staff of federal inland revenue service (FIRS), Abuja. In determining the sample size, the researcher conveniently selected 57 respondents and 50 were validated. Self-constructed and validated questionnaire was used for data collection. The collected and validated questionnaires were analyzed using frequency tables, and mean scores. While the hypotheses were tested using Chi-square statistical tool. The result of the findings reveals that the extent of financial abuse in the Federal Inland Revenue service, Abuja is high. The study also revealed that the forms of financial abuse in Federal Inland Revenue service, Abuja includes: misappropriation of accounts, embezzlement, extortion, over budgeting, and money laundering. Therefore, it is recommended that government should remove immunity from office holders to enable law enforcement agencies to go after any perpetrator of financial abuse, corruption and economic crimes and none should be above the law. To mention but a few.


Table of Content


  • Title Page
  • Certification
  • Dedication
  • Acknowledgement
  • Table of Content
  • List of Tables
  • Abstract

Chapter One:

Introduction

  • 1.1 Background of the Study
  • 1.2 Statement of the Problem
  • 1.3 Objective of the Study
  • 1.4 Research Questions
  • 1.5 Research Hypothesis
  • 1.6 Significance of the Study
  • 1.7 Scope of the Study
  • 1.8 Limitation of the Study
  • 1.9 Definition of Terms
  • 1.10 Organisations of the Study

Chapter Two:

Review of Literature

  • 2.1 Conceptual Framework
  • 2.2 Theoretical Framework
  • 2.3 Empirical Review

Chapter Three:

Research Methodology

  • 3.1 Research Design
  • 3.2 Population of the Study
  • 3.3 Sample Size Determination
  • 3.4 Sample Size Selection Technique and Procedure
  • 3.5 Research Instrument and Administration
  • 3.6 Method of Data Collection
  • 3.7 Method of Data Analysis
  • 3.8 Validity of the Study
  • 3.9 Reliability of the Study
  • 3.10 Ethical Consideration

Chapter Four:

Data Presentation and Analysis

  • 4.1 Data Presentation
  • 4.2 Analysis of Data
  • 4.3 Answering Research Questions
  • 4.4 Test of Hypotheses

Chapter Five:

Summary, Conclusion and Recommendation

  • 5.1 Summary
  • 5.2 Conclusion
  • 5.3 Recommendation
  • References
  • APPENDIX
  • QUESTIONNAIRE

Chapter One


Introduction

1.1 Background of the Study

Finance, no doubt is the life blood of every organization. The effectiveness and efficiency of any organization is dependent on how well it manages it resources, whether financial, material or personnel resources. Financial management takes place within the context of economic activity as well as within a structure of social and ethical constraints (Geoffrey& Stanley, 2008). Nowadays there are blatant cases of financial abuse perpetrated by public servants in Nigeria with outrageous effect on the nation’s economy.

Financial abuse in the public sector is an attempt by which the government allows the financial mismanagement, embezzlement and wastes in it’s sector and to identify the various key area that course all abuse in the public sector and also examine the method to used.

The rate of financial abuse in the Nigerian public sector has reached a worrying and dangerous point since 1960 (Independence). Since the creation of the modern public administration in the country, there have been cases of financial misuse of resources for personal enrichment. The discovery of oil and natural gas are major events seen to have led to a litany of ignoble corrupt practices in the country. Over the years, Nigeria has seen her wealth withered with little to show for the living conditions of the average citizens (Dele, 2013). The above point was attended to by Obafemi Awolowo when he said, “Since independence, our governments have been a matter of few holding the cow for the strongest to milk”. Under these circumstances, everybody runs over everybody to make good at the expense of others (Turner, 2000).

The above view was corroborated by Robert who observed that in Nigeria, vandalism and looting of public property was not seen as a crime against society. This view is what has degenerated into the more recent disregard for public property and lack of public trust and concern for public goods as a collective national property (Robert, 2003). Also, the Economic and Financial Crimes Commission (EFCC) recorded 126 convictions most of which are financial abuse in the public sector in 2014(Oseghale 2014). The Federal Inland Revenue Service is not left out in this case of financial abuse in Nigeria.


1.2 Statement of the Problem

Financial abuse arises from the exposure of illegal financial activities within the public sector of Nigeria and the Federal Inland Revenue Service is not left out of this menace. For instance: Tax payers default in paying the exact amount needed to be paid and go on bribing tax collectors in order to reduce the actual amount collected as a tax. Also, In the processing of collecting revenue tax, officials especially the tax collector print their receipt booklet and issue such to the tax payers without their knowledge and meanwhile, the duplicate carries a different reading from the original, they sometimes use carbon paper to duplicate, at time the revenue collector would receive the money from the tax payer without issuing receipt. Therefore, for the Federal Inland Revenue Service to meet its statutory obligations specified in the 1999 constitution, loopholes for financial abuse in the sector must be minimized if not eradicated.

There are lots of factors contributing to the financial abuse in the Federal Inland Revenue Service which ranges from improper documentation, obsolete work instrument, poor attitude to work, administrative recklessness, data manipulation etc. These factors constitute a great problem to the agency in the realization of its statutory functions. Despite the enormous disadvantage of the financial abuse in the public sector, the Federal Inland Revenue Service no doubt experiences a lot of problems with regards to mismanagement of funds. Again, delay in the remittance of funds collected is also a factor that could lead to financial abuse in the Federal Inland Revenue Service. Against the aforementioned, this study seek to evaluate the financial abuse in the public sector of Nigeria (a case study of the federal inland revenue service (FIRS).


1.3 Objectives of the Study

The main objective of this study is to evaluate financial abuse in the public sector of Nigeria (a case study of the federal inland revenue service (FIRS). Other objectives of this study are:

  1. Examine the extent of financial abuse in the Federal Inland Revenue service, Abuja.
  2. Examine the forms of financial abuse in Federal Inland Revenue service, Abuja.
  3. Find out the factors contributing to financial abuse in Federal Inland Revenue service, Abuja.
  4. Ascertain the impact of financial abuse on the performance of Federal Inland Revenue service, Abuja.

1.4 Research Questions

The following research questions will be answered in this study:

  1. What is the extent of financial abuse in the Federal Inland Revenue service, Abuja?
  2. What are the forms of financial abuse in Federal Inland Revenue service, Abuja?
  3. What are the factors contributing to financial abuse in Federal Inland Revenue service, Abuja?
  4. What is the impact of financial abuse on the performance of Federal Inland Revenue service, Abuja?

1.5 Research Hypotheses

  • Ho: Financial abuse has no negative impact on the performance of Federal Inland Revenue service, Abuja.
  • Ha: Financial abuse has a negative impact on the performance of Federal Inland Revenue service, Abuja.

1.6 Significance of the Study

The significance of this study cannot be over emphasized, this is because the findings from this study can be of enormous benefit to top government officials, public policy experts, non-governmental Organizations and several others.

In addition, the study will no doubt contribute immensely to existing scholarly literature which had been done on this topic. Finally, it will be of huge importance to staff of the public sectors precisely the Federal Inland Revenue Service who have been faced with the challenges of how to mitigate financial abuses in the sector.


1.7 Scope of the Study

This study focuses on the evaluation of financial abuse in the public sector of Nigeria. The study will be carried out in federal inland revenue service (FIRS), Abuja.


1.8 Limitations of the Study

The researcher encountered minor obstacles when conducting the study, as with any human endeavor. The significant constraint was the scarcity of literature on the subject due to the nature of the discourse, so the researcher incurred more financial expenses and spent more time sourcing for relevant materials, literature, or information and in the data collection process, which is why the researcher resorted to a limited choice of sample size. Furthermore, the researcher did this investigation alongside other academic activities. Furthermore, the sample size was limited because only a few respondents were chosen to answer the research instrument, therefore the results cannot be generalized to other secondary schools outside the state. Despite the constraints encountered during the research, all elements were minimized in order to provide the best results and make the research effective.


1.9 Definition of Terms

Public Sector:

This include all organization set up by the government to satisfy human want to take care of specific want, specific needs of the public without profile purpose.

Fraud:

This is defined as an irregularity of impropriety involving the use of deception to obtain an unjust or illegal financial advantage (Okolie 2006).

Misappropriation:

This is the misuse of public fund especially by public office holder in the ministries.


1.10 Organization of the Study

The study is categorized into five chapters. The first chapter presents the background of the study, statement of the problem, objective of the study, research questions and hypothesis, the significance of the study, scope/limitations of the study, and definition of terms. The chapter two covers the review of literature with emphasis on conceptual framework, theoretical framework, and empirical review. Likewise, the chapter three which is the research methodology, specifically covers the research design, population of the study, sample size determination, sample size, and selection technique and procedure, research instrument and administration, method of data collection, method of data analysis, validity and reliability of the study, and ethical consideration. The second to last chapter being the chapter four presents the data presentation and analysis, while the last chapter (chapter five) contains the summary, conclusion and recommendation.


Chapter Five


Summary, Conclusions and Recommendations:

5.1 Introduction

This chapter summarizes the findings on financial abuse in the public sector of Nigeria using federal inland revenue service (FIRS) Abuja, as a case study. The chapter consists of summary of the study, conclusions, and recommendations.


5.2 Summary of the Study

In this study, our focus was to examine financial abuse in the public sector of Nigeria using federal inland revenue service (FIRS) Abuja, as a case study. The study was specifically carried out to examine the extent of financial abuse in the Federal Inland Revenue service, Abuja, examine the forms of financial abuse in Federal Inland Revenue service, Abuja, find out the factors contributing to financial abuse in Federal Inland Revenue service, Abuja, and ascertain the impact of financial abuse on the performance of Federal Inland Revenue service, Abuja.

The study adopted the survey research design and randomly enrolled participants in the study. A total of 50 responses were validated from the enrolled participants where all respondent were staff of federal inland revenue service (FIRS), Abuja.


5.3 Conclusions

Based on the findings of this study, the researcher concluded that;

  1. The extent of financial abuse in the Federal Inland Revenue service, Abuja is high.
  2. The forms of financial abuse in Federal Inland Revenue service, Abuja includes: misappropriation of accounts, embezzlement, extortion, over budgeting, and money laundering.
  3. The factors contributing to financial abuse in Federal Inland Revenue service, Abuja includes: improper documentation, obsolete work instrument, poor attitude to work, administrative recklessness, and data manipulation
  4. Financial abuse has a negative impact on the performance of Federal Inland Revenue service, Abuja.

5.4 Recommendations

Based on the findings of the study, the following recommendations are proffered.

  1. Government should remove immunity from office holders to enable law enforcement agencies to go after any perpetrator of financial abuse, corruption and economic crimes and none should be above the law.
  2. Every public funds appropriated should be accompanied with periodic monitoring and accountability on how it is been utilized or spent.
  3. Government should fund and equip law enforcement agencies (in charge of corruption and economic crimes) so that they can carry out their duties effectively.
  4. The public sector should organize seminars and workshops on financial abuse, corruption and economic crimes to sensitize worker of the ministry on the various ways crimes could be perpetrated so as to avoid occurrence of the crime.
  5. The public sector should provide enabling environment and give free hand for internal and external auditors to do their job properly as this would discourage civil servants from perpetrating fraud.
  6. The public sector should provide adequate remuneration and allowance through the government, as comfortable civil servants would not have a motive to perpetrate fraud.

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