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Exterminating Corruption in Nigeria: The Cressey’s Approach

Received: 22 September 2020     Accepted: 12 October 2020     Published: 11 November 2020
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Abstract

The two objectives set for this research were to assess how well, Cressey’s hypothesis, also known as fraud triangle theory, can explain the reasons behind corruption in Nigerian institutions, and to assess the significance of capability from the fraud diamond theory, towards the detection and prevention of corruption in Nigeria. The researcher adopts a critical review approach of past literature. From the conclusion reached, two recommendations for successful eradication of corruption in Nigeria are: (1) to adopt the Cressey’s fraud triangle approach as well as the fraud diamond to fight corruption (in micro-level), from organization to organization and (2), to adopt a more fundamental approach similar to the Hong Kong’s Two-Pronged approach to improve overall accountability and fight opportunity for corruption from a wider macro level. Suggested step for the federal government of Nigeria to successfully fight corruption at a macro level, is to merge the Economic and Financial Crimes Commission (EFCC) and Independent Corrupt Practices and Other Related Offences Commission (ICPC) to form one single and properly resourced independent corruption-fighting agency, similar to that of Hong Kong’s Independent Commission Against Corruption (ICAC).

Published in Journal of Finance and Accounting (Volume 8, Issue 6)
DOI 10.11648/j.jfa.20200806.11
Page(s) 246-256
Creative Commons

This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.

Copyright

Copyright © The Author(s), 2020. Published by Science Publishing Group

Keywords

Fraud, Corruption, Cressey’s Fraud Triangle, Fraud Diamond, Nigeria

References
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Cite This Article
  • APA Style

    Sixtus Cyprian Onyekwere, Thomas Audu Ayim, Hassan Usman. (2020). Exterminating Corruption in Nigeria: The Cressey’s Approach. Journal of Finance and Accounting, 8(6), 246-256. https://doi.org/10.11648/j.jfa.20200806.11

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    ACS Style

    Sixtus Cyprian Onyekwere; Thomas Audu Ayim; Hassan Usman. Exterminating Corruption in Nigeria: The Cressey’s Approach. J. Finance Account. 2020, 8(6), 246-256. doi: 10.11648/j.jfa.20200806.11

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    AMA Style

    Sixtus Cyprian Onyekwere, Thomas Audu Ayim, Hassan Usman. Exterminating Corruption in Nigeria: The Cressey’s Approach. J Finance Account. 2020;8(6):246-256. doi: 10.11648/j.jfa.20200806.11

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  • @article{10.11648/j.jfa.20200806.11,
      author = {Sixtus Cyprian Onyekwere and Thomas Audu Ayim and Hassan Usman},
      title = {Exterminating Corruption in Nigeria: The Cressey’s Approach},
      journal = {Journal of Finance and Accounting},
      volume = {8},
      number = {6},
      pages = {246-256},
      doi = {10.11648/j.jfa.20200806.11},
      url = {https://doi.org/10.11648/j.jfa.20200806.11},
      eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.jfa.20200806.11},
      abstract = {The two objectives set for this research were to assess how well, Cressey’s hypothesis, also known as fraud triangle theory, can explain the reasons behind corruption in Nigerian institutions, and to assess the significance of capability from the fraud diamond theory, towards the detection and prevention of corruption in Nigeria. The researcher adopts a critical review approach of past literature. From the conclusion reached, two recommendations for successful eradication of corruption in Nigeria are: (1) to adopt the Cressey’s fraud triangle approach as well as the fraud diamond to fight corruption (in micro-level), from organization to organization and (2), to adopt a more fundamental approach similar to the Hong Kong’s Two-Pronged approach to improve overall accountability and fight opportunity for corruption from a wider macro level. Suggested step for the federal government of Nigeria to successfully fight corruption at a macro level, is to merge the Economic and Financial Crimes Commission (EFCC) and Independent Corrupt Practices and Other Related Offences Commission (ICPC) to form one single and properly resourced independent corruption-fighting agency, similar to that of Hong Kong’s Independent Commission Against Corruption (ICAC).},
     year = {2020}
    }
    

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    AU  - Sixtus Cyprian Onyekwere
    AU  - Thomas Audu Ayim
    AU  - Hassan Usman
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    N1  - https://doi.org/10.11648/j.jfa.20200806.11
    DO  - 10.11648/j.jfa.20200806.11
    T2  - Journal of Finance and Accounting
    JF  - Journal of Finance and Accounting
    JO  - Journal of Finance and Accounting
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    PB  - Science Publishing Group
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    UR  - https://doi.org/10.11648/j.jfa.20200806.11
    AB  - The two objectives set for this research were to assess how well, Cressey’s hypothesis, also known as fraud triangle theory, can explain the reasons behind corruption in Nigerian institutions, and to assess the significance of capability from the fraud diamond theory, towards the detection and prevention of corruption in Nigeria. The researcher adopts a critical review approach of past literature. From the conclusion reached, two recommendations for successful eradication of corruption in Nigeria are: (1) to adopt the Cressey’s fraud triangle approach as well as the fraud diamond to fight corruption (in micro-level), from organization to organization and (2), to adopt a more fundamental approach similar to the Hong Kong’s Two-Pronged approach to improve overall accountability and fight opportunity for corruption from a wider macro level. Suggested step for the federal government of Nigeria to successfully fight corruption at a macro level, is to merge the Economic and Financial Crimes Commission (EFCC) and Independent Corrupt Practices and Other Related Offences Commission (ICPC) to form one single and properly resourced independent corruption-fighting agency, similar to that of Hong Kong’s Independent Commission Against Corruption (ICAC).
    VL  - 8
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Author Information
  • Department of Economics, Aduvie Pre University College, Abuja, Nigeria

  • Department of Accounting, Aduvie Pre University College, Abuja, Nigeria

  • Department of Accounting with Finance, Portsmouth University, Portsmouth, United Kingdom

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