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The Association of Chief Compliance Officers of Banks in Nigeria (ACCOBIN) has urged the financial services sector to embrace artificial intelligence (AI) and advanced technologies as integral tools for strengthening risk management frameworks and safeguarding financial integrity.
This call to action was made at the 2025 ACCOBIN Annual Stakeholders’ Conference, held in Lagos under the theme “Beyond Compliance: AI, Risk, and the Future of Financial Integrity.”
The conference convened key stakeholders—including senior compliance officers, regulatory authorities, law enforcement agencies, technology providers, and financial executives—to address the escalating complexities of financial crime, regulatory demands, and technological transformation in the banking landscape.
In his keynote address, ACCOBIN Chairman Adeboye Ogunmolade emphasized the need to move beyond conventional compliance checklists toward intelligent, data-driven risk management systems.
“The financial ecosystem is rapidly evolving, shaped by technology and emerging risks. Artificial intelligence is revolutionising fraud detection, transaction surveillance, and data analytics. Compliance must now serve as a strategic function that leverages AI to uphold the integrity of our financial system,” Ogunmolade stated.
He reiterated ACCOBIN’s commitment to promoting a paradigm shift from reactive to proactive compliance practices, underpinned by AI and machine learning.
Top officials from the Central Bank of Nigeria (CBN), including Directors Yetunde Onafuwa (Banking Supervision), Abiodun Adeyemo (Consumer Protection), and Kehinde Salami (Compliance), lent their support to ACCOBIN’s initiative. In a joint statement, they affirmed the CBN’s regulatory vision for a resilient and technologically enabled financial sector.
“As AI becomes increasingly embedded in banking operations, regulators must ensure its ethical and responsible use to foster transparency, trust, and accountability. Our collaboration with ACCOBIN is critical to achieving this shared vision,” the statement noted.
Speaking on behalf of the Economic and Financial Crimes Commission (EFCC), Shehu Ala, Head of Investigations at the Zonal Directorate 1, stressed the urgency of equipping institutions with sophisticated tools to combat evolving threats.
“Financial crimes are becoming more complex. Our vigilance, enhanced by AI, is essential to defending the integrity of Nigeria’s financial system. Banks and regulators must act as joint custodians of trust,” he said.
Global consulting firms KPMG and Deloitte also delivered expert presentations on the application of AI in compliance and risk management, highlighting its transformative impact on fraud prevention, anti-money laundering, and cybersecurity.
ACCOBIN confirmed that outcomes from the conference will shape future policy advocacy, industry guidelines, and innovation strategies within Nigeria’s financial sector.
“Our vision is a financial system that is not only compliant but also intelligent, adaptive, and future-ready,” Ogunmolade concluded.
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