FORENSIC ACCOUNTING AND FRAUD INVESTIGATION
Forensic accounting is the aspect of accounting that deals with the detection and prevention of financial crimes, including fraud. It involves the use of investigative and analytical skills and tools to unravel financial crimes, ascertain the perpetrators and extent of their involvement, while ensuring compliance with the legal framework for evidence gathering and prosecution. The promoters of Sevitel Counter-fraud Services have been involved in significant investigations across the financial services industry and beyond. Accordingly, we have worked with organisations to unravel fraud and identify the fraudsters for necessary disciplinary action, recovery and litigation.
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Specifically, two of the three promoters of Sevitel Counter-fraud Services provided the investigative breakthrough that enabled the Federal Government of Nigeria (FGN) to secure a right of appeal in the celebrated case between Process & Industrial Developments Limited (P&ID) and the FGN, which resulted in the reversal of the $11 billion dollars arbitration award against the Federal Government of Nigeria. Beyond providing the investigative breakthrough that secured the right of appeal, the team worked with the team from the Economic and Financial Crimes Commission (EFCC) to provide evidence to Nigeria’s legal team for the successful prosecute of the case.
Being in the service of the Central Bank of Nigeria at the time, they were co-opted into the investigations based on a high-level meeting at the Presidency wherein they were requested to work with the EFCC team to unravel the possibility of fraud in the P&ID case. Subsequently, the duo decided to provide the same set of high skills to organisations across the globe with a view to reducing the incidence and extent of financial loss attributable to fraud. Consequently, Setivel Counter-fraud Services was established to accomplish the noble objective of reducing fraud to the barest minimum across the globe.