Nigeria’s financial sector is entering a new phase of regulatory transformation following a directive by the Central Bank of Nigeria mandating the adoption of artificial intelligence across banks and fintechs. Announced on March 11, 2026, the policy requires all deposit money banks to deploy AI powered anti money laundering systems within 18 months, while other financial institutions have a 24 month timeline. Institutions are also expected to submit implementation roadmaps within 90 days, effectively bringing an end to manual compliance monitoring across the industry.
The directive introduces sweeping requirements covering customer verification, sanctions screening, suspicious activity detection, case management, and regulatory reporting, all of which must be automated and auditable. While larger banks are expected to accelerate existing digital transformation plans, smaller institutions are now under pressure to adopt cost effective and scalable solutions. This shift has created new opportunities for emerging technology firms, particularly those already building AI driven enterprise systems.
Among them is Grace AI Lab, a Lagos based startup founded by Divine Matthew, which focuses on deploying autonomous AI agents capable of executing end to end workflows within organisations. Rather than offering traditional chatbots or analytics tools, the company develops specialised digital agents that integrate with enterprise systems to handle tasks such as transaction disputes, customer service, and compliance processes with minimal human intervention.
The system operates on a multi layer structure where most interactions are resolved instantly, while more complex cases are escalated to human operators equipped with AI generated insights and recommendations.
With the new regulatory environment, the company is positioning its technology as a solution for financial institutions seeking to meet compliance requirements efficiently. Its AI agents are designed to reduce false positives in fraud detection, automate investigations, and generate regulatory reports, streamlining operations for compliance teams.
Already operational in Lagos, the platform has seen early adoption across sectors including hospitality and retail, where it has improved response times and reduced operational errors, as the broader financial industry prepares for a transition to AI driven compliance systems.