ATTENTION:
BEFORE YOU READ THE ABSTRACT OR CHAPTER ONE OF THE PROJECT TOPICS BELOW, PLEASE READ THE INFORMATION BELOW.THANK YOU!
INFORMATION:
YOU CAN GET THE COMPLETE PROJECT OF THE TOPIC BELOW. THE FULL PROJECT COST N5,000 ONLY. THE FULL INFORMATION ON HOW TO PAY AND GET THE COMPLETE PROJECT IS AT THE BOTTOM OF THIS PAGE. OR
YOU CAN CALL: 08068231953, 08137701720, 09070569307, 08154275408
WHATSAPP US ON: 08137701720
EVALUATION OF FINANCIAL ABUSE IN THE PUBLIC SERVICE
ABSTRACT
This study focus on corruption and financial abuse in the public sector with a particular reference to the Federal Inland Revenue Service, Abuja. The study identified the major causes of corruption and financial abuse which ranges from bad government to degrading societal values in public. In the course of the study, it was discovered that although corruption and financial abuse ca not be completely eradicated but with proper checks and balances, the result will lead to the effectiveness and proper utilization of public funds. Having made the analysis, recommendations were made as to the measures the government, law enforcement agencies, ministry and the public will adopt in fighting the menace. The entire work is divided into five chapters. In chapter one, an introduction to the study was made, stating the importance and why the study is carried out. In chapter two a review of literature was carried out to examine other scholarly impute to the study in question. Finally, research methodology, data presentation, Analysis, summary of findings, recommendation and conclusion were made in chapter 3, 4, and 5 respectively.
CHAPTER ONE
1.0 INTRODUCTION
The Nigerian Federal Inland Revenue Service was created in 1943. It was carried from the erst while Inland Revenue Department that covered what was then the Anglophone West Africa (including Ghana, Gambia, Sierialoen) during the colonial era. Tax provides revenue to fund government and ensures resource redistribution, streamlines consumption of certain goods and services, reduce inflation and generates employment (Varda, 1985).
The Federal Inland Revenue Services is constitutionally empowered to collect taxes. In 1958 the board of Inland Revenue was established under the income tax ordinance of 1958. The name was later changed in 1960 when the Federal Board of Inland Revenue (FBIR) was established under section 4 of the Companies and Income Tax Act (CITA) No 22 Of 1961 FBIR operated then as department in the federal ministry of finance a further transformation took place in 1993 when the finance (miscellaneous taxation provisions) Act No. 3 of 1993 established the Federal inland revenue service FIRS as the operational arm of FBIR, the Act also created the office of the executive chairman of the board. In 2007, the Federal Inland Revenue service establishment Act (2007) which granted autonomy to the service was enhanced. The federal Inland Revenue service decided to publish a list of operational offices, jurisdiction and telephone numbers.
This directory is a guide to all tax payers on how best they could access services; it is hoped that these directories will foster continuous interaction between FIRS and tax payers and guide the service on how best to serve the public. The boards consist of:
i. The executive chairman of the service who shall be experienced in taxation as chairman of the service to be appointed by the president and subject to be confirmation of the senate.
ii. Six workers with relevant qualification and expertise who shall be appointed by the president to represent each of the six geo-political zones.
iii. A representative of the attorney general of the federation.
iv. The governor of the central bank Nigeria or his representative.
v. A representative of minister of finance not below the rank at director.
1.1 BACKGROUND OF THE STUDY
The rate of financial abuse in the Nigerian public sector has reached a worrying and dangerous point since 1960 (Independence). Since the creation of the modern public administration in the country, there have been cases of financial misuse of resources for personal enrichment. The discovery of oil and natural gas are major events seen to have led to a litany of ignoble corrupt practices in the country. Over the years, Nigeria has seen her wealth withered with little to show for the living conditions of the average citizens (Wraith and Simpkins, 1993). The above point was attended to by Obafemi Awolowo when he said, “Since independence, our governments have been a matter of few holding the cow for the strongest to milk”. Under these circumstances, everybody runs over everybody to make good at the expense of others (Turner, 2000).
The above view was corroborated by Robert who observed that in Nigeria, vandalism and looting of public property was not seen as a crime against society. This view is what has degenerated into the more recent disregard for public property and lack of public trust and concern for public goods as a collective national property (Robert, 2003).
Also, the Economic and Financial Crimes Commission (EFCC) recorded 126 convictions most of which are financial abuse in the public sector in 2014, the commissions spokesman Wilson Uwujaren, who disclosed this on Tuesday January 13 2015 at a media briefing in Enugu, said that the figure was more than 117 convictions the media recorded in 2013 (Oseghale 2014).
The Federal Inland Revenue Service is not left out in this financial abuse. For instance: Tax payers default in paying the exact amount needed to be paid and go on bribing tax collectors in order to reduce the actual amount collected as a tax. Also, In the processing of collecting revenue tax, officials especially the tax collector print their receipt booklet and issue such to the tax payers without their knowledge and meanwhile, the duplicate carries a different reading from the original, they may use carbon paper to the duplicate, at time the revenue collector would receive the money from the tax payer without issuing receipt. Therefore, for the Federal Inland Revenue Service to meet its statutory obligations specified in the 1999 constitution, loopholes for financial abuse in the sector must be minimized if not eradicated. Against this background, this study evaluates the financial abuse in the public sector with particular reference to the Federal Inland Revenue Service Abuja.
1.2 STATEMENT OF THE PROBLEM
There are lots of factors contributing to the financial abuse in the Federal Inland Revenue Service which ranges from improper documentation, obsolete work instrument, poor attitude to work, administrative recklessness, data manipulation etc. These factors constitute a great problem to the agency in the realization of its statutory functions. Despite the enormous disadvantage of the financial abuse in the public sector, the Federal Inland Revenue Service no doubt experiences a lot of problems with regards to mismanagement of funds. Again, delay in the remittance of funds collected is also a factor that could lead to financial abuse in the Federal Inland Revenue Service. When all these factors are not checked early, the operational capacity and objective for establishing the service will be defeated. To this extent, the Revenue Mobilization Allocation and Fiscal Commission (RMAFC) ought to urge the Federal Inland Revenue Service to intensify its effort in recovering huge amount of money from the tax collection. The emerging question is: why has the FIRS failed to check the factors affecting its expected delivery services in terms of revenue control?
1.3 OBJECTIVES OF THE STUDY
The study has the following objectives:
1. To examine the extent of financial abuse in the Federal Inland Revenue service’s, Abuja.
2. To examine the causes of financial abuse in the federal Inland Revenue service Abuja; and to
3. suggest measures to reduce the financial abuse in the federal Inland Revenue service Abuja
1.4 RESEARCH QUESTIONS
The fundamental questions to be raised and addressed in the study are as follows:
1. To what extent is the financial abuse in the federal Inland Revenue service Abuja?
2. What are the causes of financial abuse in the federal Inland Revenue service Abuja?
3. What resources/factors could be suggested to reduce the financial abuse in the federal Inland Revenue service Abuja
1.5 RESEARCH HYPOTHESIS
In line with the aforementioned objectives, the researcher has generated the following hypothesis which are stated as follows in their Null:
1. Ho. There is significant relationship in the opinion of the respondent across federal Inland Revenue service Abuja that the extent of financial abuse is enormous.
2. Ho: There is significant relationship in the opinion of the respondents across federal Inland Revenue service Abuja that officials of the agency deliberately refuse remittance of funds collected which leads to fraud.
3. Ho: There is significant relationship in the opinion of the respondent across the Federal Inland Revenue Service Abuja that adequate internal control and prompt prosecution of offenders found to be corrupt will reduce financial abuse in the Federal Inland revenue Abuja.
1.6 SIGNIFICANCE OF THE STUDY
The significance of this study cannot be over emphasized, this is because the findings from this study can be of enormous benefit to top government officials, public policy experts, non-governmental Organizations and several others.
In addition, the study will no doubt contribute immensely to existing scholarly literature which had been done on this topic. Finally, it will be of huge importance to staff of the public sectors precisely the Federal Inland Revenue Service who have been faced with the challenges of how to mitigate financial abuses in the sector.
1.7 SCOPE OF STUDY
The broad view of this study revolves round the financial abuses in public sectors in Nigeria. However, the main focus of this research will be the Federal Inland Revenue Service Abuja. From 2009 – 2014.
1.8 DEFINITION OF TERMS
It is always necessary for the researcher to define terms that are frequently used in the research work the following are some of the terms used.
1. Internal control system: To carry on the affair of an organization in orderly manner safeguard the assets and secure the accuracy and reliability of the organization.
2. Public sector: This include all organization set up by the government to satisfy human want to take care of specific want, specific needs of the public without profile purpose.
3. Due process: This refers to the mechanism, procedure and set of standards applied to public sector procurement of goods and services to ensure budget discipline.
4. Fraud: This is defined as an irregularity of impropriety involving the use of deception to obtain an unjust or illegal financial advantage (Okolie 2006).
5. Crimes: This can be defined as a dishonest, violent, or immoral action that can be punished by law.
6. Economic: According to Longman dictionary of contemporary English, defined economic as the system by which a country’s money and goods are produced and used.
7. Revenue: the entire amount of income before any deductions are made, it is government income due to taxation.
8. Agency: it is an administrative unit of government that provides a particular service, especially the mediation of transactions between two parties.
9. Cash and cheque received by post: To ensure that cash and cheque received by post are accounted for and records in the book.
10. Cash sale and collection: To ensure that all the cash from cash sales and collection which should be received is properly accounted for and of properly recorded.
11. Payment in bank: Ensure that all cash and cheque received are paid into bank with delay and accurately recorded.
12. Cash and bank balances: Establishment of cash flows of specified account and locations of bank account by independent responsible, officer at prescribed frequently.
13. Cheque payment: To prevent unauthorized payment being made from bank account control over custody and issue of cheque booklet.
14. Transparency: As used in the humanities and in a social context more generally, implies openness in every area of business or globally.
15. Misappropriation: This is the misuse of public fund especially by public office holder in the ministries.
16. Ethical value: These are those qualities, which ensure that a member behaves with integrity in all professional, business and financial relationships and that he or she should strive for objectivity in all professional and business judgments.
17. Accountability: This is the true openness or giving account of what has been expended by the public officer holder.
18. Favoritism: This is a mechanism of power abuse implying a highly biased distribution of state resources.
19. Procurement: This is the acquisition of goods and/or services at the best possible total cost of ownership, in the right quantity and quality.
20. Treasury: This is the keeping of accounts of government funds and investment.
21. Budget control: This involves strict compliance with all the variables about the budget.
22. Contract: This is a project executed by persons or person normally evidenced by an agreement between two or more parties.
23. Some control terms: These are the control procedure that the management should be adapting in order to eradicate and or minimize the effect of financial waste in the public sector, to ensure accuracy and reliability of the accounting records and the promotion of policies internal control system e.g. internal accounting control management control and internal audit.
HOW TO RECEIVE PROJECT MATERIAL (S)
After paying the appropriate amount (#5,000) into our bank Account below, send the following information to any of the numbers below
08068231953, 08137701720, 09070569307, 08154275408 (1) Your project topics
(2) Email Address
(3) Payment Name
OR you drop them on our WhatsApp, 08137701720
We will send your material(s) after we receive bank alert
BANK ACCOUNTS
Account Name: AMUTAH DANIEL CHUKWUDI
Account Number: 0046579864
Bank: GTBank.
OR
Account Name: AMUTAH DANIEL CHUKWUDI
Account Number: 3139283609
Bank: FIRST BANK
FOR MORE INFORMATION, CALL:
08068231953, 08137701720, 09070569307, 08154275408