Mr. Hakeem Adeniji-Adele, Deputy Managing Director of eTranzact Plc, says Artificial Intelligence (AI) is central to preventing financial fraud in Nigeria’s financial sector.
Adeniji-Adele made this statement on Saturday following the second Nigeria Telecoms Forum 2026, which brought together key stakeholders from the fintech and telecommunications industries.
The forum, themed “Resilient Networks, Smarter Futures: Powering Nigeria’s Next Digital Decade,” focused on innovation, collaboration, and the future of digital infrastructure.
According to Adeniji-Adele, AI is becoming a critical tool in combating fraud across financial institutions.
He explained that AI is reshaping telecom operations, with the ability to predict and prevent threats before they occur.
“Fraud management is shifting from reactive systems to advanced, forward-looking solutions powered by AI,” he said.
Conventional systems rely on fixed rules and often respond after fraud occurs, whereas AI detects patterns and anticipates fraudulent activities earlier.
“In my industry today, we are seeing a 25 to 35 per cent reduction in fraud losses for institutions adopting AI-driven systems,” he added.
The session emphasized the need for stronger collaboration among industry players to build resilient digital infrastructure and support long-term economic growth.
Stakeholders stressed that deploying advanced technologies such as AI is vital to strengthen security frameworks and sustain trust in Nigeria’s financial system.
Panellists 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.
