MSMEs Dey Lose ₦10 Trillion to Employee Fraud for Naija

No be small matter we go yarn today, my people! E don clear say Nigeria micro, small, and medium enterprises (MSMEs) dey suffer big time from employee fraud wey dey carry dem enter wahala. According to the Centre for the Promotion of Private Enterprise (CPPE), dem dey lose between ₦5 trillion and ₦10 trillion every year just because of this wahala. Wetin we go fit do now?

This info come from Muda Yusuf, wey be the big man for CPPE, and e don talk as this kind of theft don turn wahala wey go fit destroy plenty businesses wey na the backbone of our economy. Internal fraud don turn serious matter wey fit reduce confidence from investors and spoil our national development. Abeg, wetin we go do to save our businesses?

The CPPE dey yan say na many small businesses dey operate with no proper checks and balances. Dem no dey use formal accounting system, and because say trust dey high for management, na im make dem dey fall victim for dis kind of fraud easily. Employee fraud fit range from cash theft, payroll play, procurement wahala to inventory issue. Na dis kind thing dey reduce profits wey dey small like beans!

Dem don conclude say this employee corruption and internal fraud na serious killer for business sustainability and profitability. If we no take care, e go continue dey drain our economy without we go fit see am as real threat. Na why CPPE dey waka up and down dey shout say, ‘Make we find solution o!’ Dem sabi say tackle this fraud matter no go fit just be matter for business owners alone but everybody suppose join hands together – regulators, policymakers, we all dey in this matter together.

So, as we dey talk, na serious time for everybody wey dey into MSMEs to shine their eye well well. E go better if our dear country fit provide some form of protection for this MSMEs, make we no allow employee fraud carry our economy go bush. Na only when we fit safeguard these businesses, we go fit maintain better economic stability for our nation. Oya, make we gather ourselves and tackle this issue before e too late!