EventsThe 2nd International Online Conference on Risk and Financial Management
Published
This submission belongs to the session S3. Blockchain and Digital Assets: Frontier Analytics of the event The 2nd International Online Conference on Risk and Financial Management
Published date
28 Oct, 2026
Academic Editor
author-avatarThanasis Stengos
Citation
Abayomi Olusegun Ogunsanwo, Azeez akanni Oyelekan, Blockchain Technology for Transparency and Fraud Prevention in Supply Chain Management among Food, Beverages and Tobacco manufacturing companies in Nigeria, in Proceedings of The 2nd International Online Conference on Risk and Financial Management, 2 November–4 November 2026, MDPI: Basel, Switzerland
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Blockchain Technology for Transparency and Fraud Prevention in Supply Chain Management among Food, Beverages and Tobacco manufacturing companies in Nigeria

Abayomi Olusegun Ogunsanwo 1
1. Procurement and Supply-Chain Management, Federal University of Technology Ilaro, Ilaro, Nigeria
2. General Studies, Federal University of Technology, Akure, Ondo State, Nigeria
Abstract

Supply-chain fraud and inadequate transparency remain significant governance challenges for manufacturing firms operating through complex inter-organisational networks. This study examines the relationships among technological, organisational and environmental conditions, blockchain adoption, supply-chain transparency and fraud-prevention capability among food, beverage and tobacco manufacturing firms registered with the Manufacturers Association of Nigeria (MAN) in Lagos, Nigeria.  The study adopted a cross-sectional quantitative survey design, anchored on the Technology–Organisation–Environment (TOE) framework. Twelve firms were purposively selected from the MAN directory, with eligible managers in supply-chain, procurement, logistics/warehouse, inventory, ICT/compliance and operations functions participating. Using Cochran’s (1977) formula for an infinite population, 389 questionnaires were administered, of which 384 were validly retrieved, representing a 98.7% valid response rate. Multiple regression analysis was conducted using SPSS Statistics Version 29. Technology (β = 0.631, p < 0.001) and Environment (β = 0.128, p = 0.006) were positively associated with blockchain adoption, whereas Organisation was statistically insignificant (β = 0.073, p = 0.127). The TOE model explained 55.0% of observed variance in blockchain adoption. Blockchain adoption was positively associated with transparency (β = 0.558, R² = 0.311, p < 0.001), while blockchain adoption (β = 0.305) and transparency (β = 0.419) jointly explained 41.1% of observed variance in fraud-prevention capability (p < 0.001). The study concludes that technological and environmental conditions are significant predictors of blockchain adoption, while blockchain adoption and transparency are positively associated with fraud-prevention capability. Manufacturing firms should adopt blockchain, strengthen supply-chain transparency and improve fraud-control systems with appropriate regulatory support.

Keywords
Blockchain Technology
Fraud Prevention
Manufacturing Supply Chain
Supply Chain Transparency
TOE Framework
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