Abstract

This paper proposes sixteen indices that were considered very important for the analysis of financial crime related issues in Nigeria. The indices were listed in the questionnaire that was administered on the FCT and thirty out of thirty-six states that span the six geo-political zones of Nigeria to obtain relevant data. Copies of the questionnaire were administered during meetings with stakeholders of banks, insurance companies, educational institutions and other relevant government and private owned establishments. The data obtained were subjected to factor analysis by principal component using SPSS. The analysis identified policies and regulations, responses and management, capacity building and awareness and litigation as the major issues to be addressed if financial crimes are to be checked. The percentage of the contributory effect of these issues and the degree of relevance of their associated indices were determined and found to be less than 100, indicating that the indices of some extraneous issues were not considered in the research instrument. Such issues include but not limited to economic status and cultural and societal impacts. Moreover, a coefficient score matrix was generated and used to estimate and rank the contribution of each respondent to the extracted issues.