PUBLIC PERCEPTION OF EFFECT OF FINANCIAL CRIME ON DEVELOPMENT IN ABUJA MUNICIPAL AREA COUNCIL, NIGERIA.

Financial crimes have grown wildly today. The emergences of computer software coupled with the advent of internet facilities have further compounded the problem in Nigeria. This research focuses on the effect of financial crime on development in Abuja Municipal Area Council, Nigeria. The study used conflict theory to explain and understand the effect of Financial crime on development in Abuja municipal area council. Survey method was employed while cluster or area sampling technique was used to select respondents from the study area. Questionnaire was the instrument used for data collection from a sample of 156 respondents. Simple percentages was used to analyze the data gathered. Demographic characteristic of the respondents were analyzed as well as the Nature, causes and effects of financial crime in Abuja municipal area council. The study identified misplaced value system as the major factor propelling peoples’ involvement in financial crime in Abuja Municipal Area Council. The get rich quick syndromes prevalent within the politics have influenced people especially the youths to indulge in financial crime which has negative effects on growth and development. Based on the finding, The study concluded that financial crime has a negative effect on development at all level in Abuja Municipal Area Council. Everything must be done through public enlightenment and mobilization to successfully fight financial crime in Nigeria. It is therefore recommends that the misplaced value system should be redirected to make way for honesty and hard work. The enthronement of good and dynamic leadership is equally required to correct the imbalances or inequitable distribution of economic resources as a way of tackling this challenge. It is also recommended that Nigerian government should strengthen her anti-crime prevention through information technology in order to detect financial crime and order related offences.