Israel Oluyemi
The Deputy Managing Director of eTranzact Plc, Mr Hakeem Adeniji-Adele, has said institutions using Artificial Intelligence now achieve up to 35 per cent reduction in financial fraud losses.
He made this known at the second Nigeria Telecoms Forum 2026, where telecom and fintech stakeholders met to discuss digital innovation and infrastructure.
Adeniji-Adele said financial institutions now deploy AI tools to identify patterns, predict risks, and stop fraudulent activities before they occur.
“Fraud management is shifting from reactive systems to advanced, forward-looking solutions powered by Artificial Intelligence,” he said.
He added that AI-driven systems outperform traditional methods that respond only after fraud incidents.
“We have traditional systems that are reactive, but the beautiful thing about AI is that it is predictive,” he noted.
Stakeholders at the forum urged stronger collaboration among industry players to improve security frameworks and digital resilience.
They said wider adoption of advanced technologies will protect transactions, strengthen trust, and support sustained economic growth.