Fraud permeates several areas of the Nigerian economy including the agricultural sector. Therefore, it is essential that the agricultural industries make a concerted effort to stop the occurrence of fraud and always implement the necessary control measures. The study utilized Fraud Prevention (FP) as the dependent variable and Control Environment (CE), Risk Assessment (RA) and Safeguarding of Asset (SA), and as the independent variables. The target population of the study which also doubles as the sample size includes 30 eligible respondents from the selected agricultural firms. Data for the study was sourced using a 5-Likert scale questionnaire. Data were analyzed using tables and graphs while hypothesis were tested using multiple linear regression. Result of the regression analysis revealed that control environment had negative and insignificant effect on fraud prevention of the selected agricultural firms, risk assessment had positive and significant effect on fraud prevention of the selected agricultural firms while safeguarding of assets had negative and insignificant effect on fraud prevention of the selected agricultural firms. It was therefore recommended that there is need for thorough background checks on proposed employees in order to determine whether they are qualified for the position. Agricultural firms should improve or come up with enhanced code of conduct to guide the employees on their required conduct and behaviour. There is need for systems that can help to identify, analyze, estimate, and manage risks need to be strengthened and improved in order to entirely close any gaps in governmental regulations and corporate guidelines.