Financial Frauds Pose Threat to Nigeria's Survival – Prof. Kida Warns in FULafia Inaugural Lecture

Professor Mohammed Isa Kida, Dean of the Faculty of Management Sciences, warned that Nigeria's survival is at risk unless the country takes decisive action to combat financial fraud. The professor, who also chairs the Committee of Provosts, Deans, and Directors at FULafia, highlighted the wide-reaching effects of financial fraud on Nigeria’s public sector, governance, and economic growth. This was slated in a bold statement during his inaugural lecture at the Federal University of Lafia (FULafia). 

Kida, delivering his 24th inaugural lecture titled "Unveiling the Dynamics of Financial Fraud in the Nigerian Public Sector: The Crucial Role of Accountants and Auditors in Perpetuating and Deterring the Menace," discussed various forms of financial fraud including procurement scams, payroll manipulations, phishing, identity theft, and payment fraud. These issues, according to Kida, expose systemic vulnerabilities within the country, necessitating immediate intervention.

Addressing the issue, Kida stressed the need for stronger legal frameworks, greater enforcement of anti-fraud laws, and the utilization of advanced technology to combat fraud. He acknowledged the efforts made by institutions like the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC), but urged for improved compliance and enforcement of Nigeria’s anti-fraud measures.

The professor emphasized the role of accountants and auditors as critical players in identifying and preventing fraud, urging them to uphold high ethical standards and professional integrity. He also advocated for the empowerment of these professionals to effectively combat the growing threat of financial fraud in Nigeria.

The event, held at the MIS Multi-purpose Hall on FULafia's permanent site campus, was marked by a series of commendations. Vice-Chancellor of FULafia, Professor Shehu Abdul Rahman, praised Kida for his dedication to solving Nigeria’s economic challenges, noting that Kida’s lecture was the first from the Department of Accounting and Faculty of Management Sciences.

Professor Jude Sammani Rabo, Vice-Chancellor of Federal University, Wukari, Taraba State, commended Kida’s work in accounting, particularly his contributions at the Federal University, Wukari. The Emir of Lafia, Hon. Justice Sidi Bage Muhammad 1, JSC (rtd), other traditional rulers, political figures, and family members also attended the event in support of Kida.

The lecture concluded with the presentation of certificates and plaques to Kida by Professor Abdul Rahman, celebrating his significant contributions to the field of accounting and his pivotal role in shaping academic thought in Nigeria.

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