Forensic Accounting as a Tool for Combating Political Corruption in International Development Projects

This study investigated the role of forensic accounting in enhancing development accountability in internationally funded projects in Nigeria. The background highlighted issues of financial mismanagement and corruption in donour-funded initiatives, worsened by political interference. The research examined how forensic accounting can improve financial oversight and transparency. Key objectives included assessing the use of forensic tools, understanding political challenges, and evaluating their impact on accountability. The study is framed by three theoretical frameworks. First and foremost, the principal-agent theory; secondly, new institutional economics; and lastly, political economy, which focused on the relationships between government, institutions, and accountability mechanisms in Nigeria’s development context. A mixed-methods approach was used to collect qualitative and quantitative data from stakeholders such as government agencies, development partners, and forensic experts. The research found that forensic accounting has potential, but its effectiveness was hindered by weak institutions, political dynamics, and limited technical capacity. The policy implications suggested legal and institutional reforms, including mandatory forensic audits for development projects, capacity-building, and independent oversight bodies. The study recommended policies for mandatory forensic auditing, transparent reporting, and legal reforms to ensure political independence in financial oversight. In conclusion, the study argued that implementing forensic accounting practices can improve development accountability in Nigeria, provided there is institutional commitment and political will.