Forensic Accounting and Investigation: A Means of Curbing Money Laundering Activities in Nigeria

Abstract

The theme of this summit is “Putting Nigeria on the Pedestal of Sustainable Economic Development: Challenges Strategies and Way Forward”; while my discussion will be on the topic; “Forensic Accounting and Investigation: A means of Curbing Money Laundering activities in Nigeria”.

You will all agree with me that to really Put Nigeria on the Pedestal of Sustainable Economic Development, all social, political, and miss-governance vis-a-vis corruption which are seen as the order of the day, and related activities must be checked in order to reduce, and or totally eradicate them. That is when there can be a country of our choice, a country in which our forefather labored and known for.

It is a known fact that Money Laundering and its related activities constitutes major problem and impediment to the development of our dear Nation “Nigeria”. This is because, the proceeds of these corrupt practices are constantly being moved out the economic system and later to be re-introduced to the system as though they are “clean monies” from “clean businesses”. Forensic accounting and investigation techniques when properly deployed would help in curbing the menace that is derailing Nigeria’s train from the rail to the Pedestal of Sustainable Economic Development.

This my presentation will look critically at the concept of Forensic accounting and Investigation vis-a-vis it’s roles in curbing the activities of corrupts Nigerians who devices Money Laundering as a means of making their illicit monies look clean. A number of available literature were reviewed to arrive at an informed conclusion and recommendation.

Keywords: Forensic Accounting, Fraud Investigation, Investigation, Money Laundering, National Development

JEL Classification: M40, M41, M49