Artificial Intelligence is fast emerging as a critical tool in combating fraud within Nigeria’s financial sector, as industry stakeholders intensify efforts to strengthen security and build trust in an increasingly digital economy. This position was reinforced by Hakeem Adeniji-Adele, Deputy Managing Director of eTranzact Plc, during the second edition of the Nigeria Telecoms Forum 2026, where experts converged to examine the future of telecommunications and financial technologies under the theme, “Resilient Networks, Smarter Futures: Powering Nigeria’s Next Digital Decade.”
Adeniji-Adele, who joined a panel of industry leaders, explained that the application of AI is fundamentally transforming fraud management from a reactive process into a predictive system capable of identifying threats before they materialise. He noted that traditional systems, which rely heavily on fixed rules, often respond only after fraudulent activities have occurred, whereas AI driven solutions analyse patterns and behaviours in real time to anticipate and prevent potential breaches, thereby significantly reducing exposure to financial losses across institutions.
The panel session, which featured key figures such as Ibrahim Dikko, Muhammed Rudman, Ayomide Jones, and Nelson Bassey, provided deeper insights into how emerging technologies are reshaping telecom operations and financial services. Adeniji-Adele disclosed that organisations adopting AI based fraud detection systems have recorded reductions in fraud losses ranging between 25 and 35 per cent, a development he attributed to the technology’s capacity to move beyond static, rule based frameworks to more adaptive and intelligent systems.
Stakeholders at the forum emphasised that sustained collaboration across the fintech and telecommunications sectors remains essential to building resilient digital infrastructure capable of supporting Nigeria’s long term economic ambitions. They maintained that the integration of advanced technologies such as AI will not only strengthen security frameworks but also play a pivotal role in sustaining consumer confidence, as the country continues to expand its digital and financial ecosystems.