Artificial Intelligence is increasingly becoming a critical tool in combating fraud within Nigeria’s financial sector, with industry experts emphasising its ability to predict and prevent threats before they occur.
This was stated by Hakeem Adeniji-Adele, deputy managing director of eTranzact Plc, at the second edition of the Nigeria Telecoms Forum 2026, themed “Resilient Networks, Smarter Futures: Powering Nigeria’s Next Digital Decade.” The event drew key stakeholders from the fintech and telecommunications industries.
He joined other industry leaders to share insights on how AI is reshaping telecom operations. Panelists included Ibrahim Dikko, CEO of Backbone Connectivity; Muhammed Rudman, CEO of Internet Exchange Point of Nigeria; Ayomide Jones, EMEA Business Development Manager, West Africa at Equinix; and Nelson Bassey, Co-founder of Flowsoft.
According to Adeniji-Adele, fraud management is shifting from traditional reactive systems to more advanced, forward-looking solutions powered by AI.
He explained that while conventional systems depend on fixed rules and typically respond after fraud has occurred, AI enables institutions to detect patterns and anticipate fraudulent activities ahead of time.
He said,
“We have traditional systems that are reactive. But the beautiful thing about AI is that it’s predictive. In my industry today, we are seeing between 25 to 35 per cent reduction in actual fraud losses for institutions that have not moved away from static rule-based systems.”
The session, which focused on innovation, collaboration, and the future of Nigeria’s telecom landscape, highlighted the importance of stronger cooperation among industry players to build resilient digital infrastructure capable of supporting long-term economic growth.
Stakeholders also stressed that deploying advanced technologies such as AI will be crucial in strengthening security frameworks and sustaining trust in Nigeria’s financial system.
