SFAFP FORENSIC

Forensic Accountants Move Against Corruption in Nigeria

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The Society for Forensic Accounting and Fraud Prevention (SFAFP) said yesterday that they are poised to prevent fraud and corruption in Nigeria.
Speaking to journalists in Abuja ahead of the Society’s year 2020 Proficiency Training on Forensic Accounting, Fraud Prevention and Management which will begin on May and extend till August 2020, the group said that it will also induct new members.
The induction will cover the batches of March 28, 2020, June 20, 2020, August 22, 2020, and
Speaking during the conference, a board member of SFAFP, Prof Suleiman Aruwa,

said that fraud has traces but that corruption traces cannot even be seen.
According to him, “The key problem we have currently is lack of diligent investigation and prosecution and because of that, we are currently engaging the ICPC, EFCC and the Code of Conduct Bureau.”
Aruwa said that the Society is helping governmental units strengthen their systems “So that we can even prevent fraud in the first instance. Prevention is the issue. I can tell you that in developed economies, there are more corruption but the system will not allow them to slip.”
Buttressing this point, Dr. Abuchi Ogbuju,

SFAFP’s executive secretary blamed the lapses in the anti-graft war on poor investigation and prosecution. “Most times, they put the cart before the horse.” he said, insisting that arresting a suspect before investigation was wrong.
He noted that the deployment of forensic ideas and tools, working with fully analysed data will increase fraud detection to between 90-99 percent.

“So you leave little or no room for a perpetrator or a suspect to get a way because the facts are there.”

He said  with the involvement forensic experts in investigations of fraud, shredded and burnt materials can be decoded.