Dr. Victoria Enape, Pro-tem President Chartered Institute of Forensic and Investigative Auditors of Nigeria (CIFIAN) has said that fraud volume in Nigerian banks increased dramatically to about N25 billion in the past five years.

Enape said this in Abuja on Friday at the opening of intensive training for forensic and investigative auditors with the theme “the use of forensic and investigative auditing for prevention of fraud, corruption and cyber-crimes in Nigeria”.

She noted that the training had become necessary going by the corruption in most government and financial institution and its (corruption) rejection by the United Nation (UN), World Bank and International Monetary Fund (IMF).

“Government at all levels is losing billions of naira every day and most of these criminal cases bordering on fraud, corruption and cyber-crimes are partly because there are no forensic and investigative auditors in Nigeria to prevent fraud from taking place.

“The place of training of forensic and investigative auditors cannot be overemphasized because the whole world has embraced this current trend years ago which has assisted them in the fight against fraud.

“Chartered Institute of Forensic and Investigative Auditors is anti-fraud organisation saddled with the responsibility of providing skills to relevant professionals on the use of science and technology to prevent, detect and investigate fraud of all kinds.

“The Institute also has mechanism to block illicit financial flows in the country; it therefore become indispensible in Nigeria if Nigerians and the future generation must experience peace and economic development,” Enape said.

She explained that fraud and corruption weakens the institutional capacity of governments and organisations as well as impedes trade and investment.

The CIFIAN boss, therefore, reiterated the urgent need for the passage of the Institute’s Bill by the House of Representatives to give concurrency after Senate passed the Bill on July 5, 2018. (NAN)