Recent findings from the Centre for the Promotion of Private Enterprise (CPPE) suggest that Nigerian MSMEs may be losing between N5 trillion and N10 trillion annually to employee corruption and occupational fraud.
For a sector that contributes nearly 50% of Nigeria’s non-oil GDP and sustains millions of livelihoods, this represents a serious but often overlooked drain on profitability and long-term sustainability.
Many business owners are focused on managing inflation, rising operating costs, infrastructure challenges, and limited access to finance. However, internal risks can be just as damaging. These include diversion of sales proceeds, payroll manipulation, procurement kickbacks, inventory and cash theft, inflated expense claims, falsified financial records, and collusion with suppliers or customers.
Globally, organizations lose an estimated 5–10% of annual revenue to employee-related fraud. For MSMEs with informal systems or weak internal controls, the impact can be even more severe.
The question is not whether fraud exists. The question is whether your current systems are strong enough to prevent it, detect it early, and discourage it.
At Crimson Oak Partners, we approach fraud prevention as a structural and strategic priority. Sustainable businesses are built on strong governance, accountability, and operational transparency.
We support MSMEs across four key pillars:
- Strategy & Governance
We conduct fraud risk assessments, map operational processes, identify control gaps, and design governance frameworks that reduce vulnerability. - People & Culture (HR Advisory)
We help organizations implement integrity screening, whistleblower systems, performance accountability frameworks, and clear codes of conduct. - Financial Controls
We strengthen internal control systems, segregation of duties, reconciliation processes, reporting structures, and financial oversight mechanisms. - Technology & Digitalization
We support the adoption of digital accounting tools, automated approval workflows, and payment digitization to improve transparency and traceability.
Protecting your business is majorly about strengthening your foundation, preserving capital, and positioning your organization for sustainable growth.
If you would like to explore how we can support your business, we would be pleased to speak with you.
