Compliance experts have called for the deployment of Artificial Intelligence (AI) to enhance organisational alignment with global compliance systems and strengthen the country’s compliance culture.
They made the call on Wednesday in Lagos at the CFAO Nigeria 2025 compliance week.
The Group Chief Compliance Officer and Company Secretary, Oando Plc, Ayotola Jagun said adherence to compliance concepts and principles could ensure the achievement of Sustainable Development Goal (SDG) 16.
The goal is on peace, justice and strong institutions.
Jagun said by the time compliance becomes a culture, achieving other goals and having a well-run sustainable business was possible.
She emphasised the need for organisations to live up to global standards by which businesses are bound on compliance.
She urged businesses to carry out due diligence on vendors and partners with regards to compliance to avert significant impacts and sanctions.
“How you doing your work is key to organisational success.
“You must understand the philosophy of regulations of all regulators. The way you approach different regulators such as the Securities and Exchange Commission (SEC) and the Nigerian Exchange Ltd. (NGX) is different.
“It is important to adhere to best practices on compliance even when leveraging AI and be cautious on exposure to cyber attacks,” she said.
The Group Chief Conduct and Compliance Officer, Access Bank Plc, Mr Femi Jaiyeola urged companies not just those in the financial services industry to take compliance seriously.
According to him, compliance in the future must be a self-regulating business as opposed to regulators enforcing it.
Jaiyeola noted that multiple regulators and an overlapping regulatory environment made it onerous to comply and called for the situation to be addressed.
He stressed the need for a national data base to reduce multiple sources of data to enable AI compute and drive the efficiency and effectiveness of compliance.
“Nigeria is not bereft of laws, principles, codes and rules but compliance is the issue and while we have made progress, there is still a long way to go and with this programme, we are seen to be taking steps.
“In other climes, you face the consequences of non compliance so it is a responsibility to comply.
“I urge CFAO Nigeria to continue to champion compliance culture in Nigeria,” he said.
The Chief Executive Officer, Aller-Ed Ltd., Eneni Oduwole emphasised the deployment of technology, AI to drive compliance systems.
Oduwole noted that with current geopolitical tensions, compliance was not just about complying but making sure everyone across the value chain has the same culture on compliance.
According to her, the world is a global village, so an organisation cannot be isolated on compliance.
She said their risk assessment must be considered in compliance levels, to avoid unfavourable sanctions in value chain.
“While AI has to drive compliance strategy, it is important to upskill supply chain on adoption of compliance culture.
“The current compliance in the non financial or non oil sector is not regulated and it is impressive that CFAO is doing this as a strategic tool to build resilience of businesses,” she said.
The Country Delegate, CFAO Nigeria, Regis Tromeur said that compliance was fundamental to the company’s mission of delivering safe, high-quality healthcare solutions.
He said the company’s Procédures et Audit de Contrôle Interne (PACI) rules guided its daily operations, ensuring consistency and excellence.
He added that their global Code of Conduct and Ethics (COCE) upheld the highest standards of integrity, transparency, and accountability in their business practices.
“In the pharmaceutical industry, compliance is not optional; it is essential.
“From ensuring product safety and regulatory adherence to maintaining ethical business conduct and financial accuracy, these ten principles serve as our commitment to patients, healthcare professionals, and regulatory bodies.
“As we mark compliance week, I encourage you all to reaffirm your dedication to ethical excellence.
“Let us remain vigilant, uphold these standards, and continue working together to strengthen our reputation as a responsible and trusted healthcare provider.”
NAN
