INVESTIGATIVE ACCOUNTING TECHNIQUES AND FINANCIAL CRIMES IN THE NIGERIAN PUBLIC SECTOR

Abstract

This study examines the effect of investigative accounting techniques on financial crimes in the Nigerian public sector. Specifically, the study investigates the influence of investigative accounting on money laundering, payroll fraud, and asset misappropriation. The study adopted a quasi-experimental research design, utilizing both primary and secondary data. Primary data were collected through structured questionnaires administered to 350 respondents drawn from three key government agencies the Nigeria Police Force, Economic and Financial Crimes Commission (EFCC), and Independent Corrupt Practices Commission (ICPC) out of which 334 valid responses were analyzed. Data were analyzed using descriptive and inferential statistics, including simple and multiple regression techniques. Findings reveal that investigative accounting has a moderate, positive, and statistically significant effect on money laundering (β = 0.568, p < 0.05), payroll fraud (β = 0.589, p < 0.05), and asset misappropriation (β = 0.579, p < 0.05) in the Nigerian public sector. The results further indicate that investigative accounting enhances fraud detection, improves transparency, and strengthens accountability mechanisms within public institutions. The study concludes that investigative accounting is an effective tool for combating financial crimes in Nigeria’s public sector. It recommends the institutionalization of investigative accounting practices, improved training of personnel, and strengthening of legal and regulatory frameworks to enhance fraud detection and prevention. This study contributes to existing literature by providing empirical evidence on the relevance of investigative accounting in addressing financial crimes and promoting good governance in developing economies.