This research work was undertaken to assess fraud in the Nigeria Banking system, types, causes, detection and control. The work was intended to achieve the following objectives: to identify the effort of government and its agencies in the prevention and control of frauds; to examine the cause of bank fraud. Relevant data was collected from both the primary and secondary sources. Questionnaire was main primary data from various relevant publications constituted the sources of secondary data. Upon the analysis of data, the following conclusions were drawn: that no periodic review of work by bank, management gives loopholes and the tendency to commit fraud in banking system. On the basin of all above findings, it was recommended that the bankruptcy law should be made more functional; and that the use of circuit television surveillance should be commenced in all banks. Finally the researcher is of the opinion that law should be reviewed to deal more severely with defaulters, individuals and institutions in the country.