An Assessment of Information Management Practices and the Containment of Financial Crimes in Nigeria

Abstract

This paper assesses the effects of information management practices on the containment of financial crimes in Nigeria. A cross-sectional research design was used to examine the relationship between the variables of the study. A total of 454 structured questionnaires were administered to the compliance department’s staff of CBN, DMBS, EFCC, and NFIU. Data collected were subjected to various diagnostic tests such as normality, reliability, and validity using IBM-SPSS V.26 software. Single and multiple linear regression analyses were employed for interpretation of data. The study found a significant influence existed between information management practices (IM), while a non-significant influence existed between the dependent variable of the study. The result for multiple regression analysis indicates that IM are very significant variables influencing the containment of financial crimes in Nigeria. The study recommends that reporting entities (REs) and law enforcement agencies (LEAs) should ensure that their information management practices are robust and sufficient. This will aid the containment of financial crimes in Nigeria. The IV is proxied by information quality, information accessibility, information security, information governance, information usage, and user satisfaction, while the containment of FCs is proxied by money laundering and terrorism finance.