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Artificial intelligence is emerging as a powerful tool in the fight against financial fraud in Nigeria, with industry insights indicating significant reductions in losses for institutions adopting advanced technologies.
Speaking at the Nigeria Telecoms Forum 2026, Hakeem Adeniji-Adele, Deputy Managing Director of eTranzact Plc, said AI-driven systems are helping financial institutions shift from reactive fraud management to predictive risk prevention.
According to him, organisations leveraging AI are recording between 25 and 35 per cent reductions in fraud losses compared to traditional rule-based systems.
“Conventional systems are largely reactive, responding after fraud occurs. AI, on the other hand, enables predictive capabilities—allowing institutions to identify patterns and stop fraudulent activities before they happen,” he noted.
The forum, themed “Resilient Networks, Smarter Futures: Powering Nigeria’s Next Digital Decade,” brought together key players from the fintech and telecommunications sectors to explore the role of emerging technologies in shaping the country’s digital future.
Other panelists included Ibrahim Dikko of Backbone Connectivity Network, Muhammed Rudman of Internet Exchange Point of Nigeria, Ayomide Jones of Equinix, and Nelson Bassey.
Discussions at the session underscored the growing importance of collaboration across industries to build resilient digital infrastructure capable of supporting Nigeria’s long-term economic growth.
Stakeholders also highlighted the critical role of AI and other advanced technologies in strengthening cybersecurity frameworks, improving operational efficiency, and sustaining trust within the financial system.
As fraud tactics become more sophisticated, experts agree that proactive, intelligence-driven systems will be essential in safeguarding Nigeria’s rapidly expanding digital economy.
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