The Association of Chief Compliance Officers of Banks in Nigeria has called for the adoption of artificial intelligence and advanced technologies in risk management to enhance financial integrity.
The call was made during ACCOBIN’s 2025 Annual Stakeholders’ Conference held in Lagos under the theme ‘Beyond Compliance: AI, Risk, and the Future of Financial Integrity’.
Stakeholders at the event stressed the importance of moving beyond traditional compliance checklists toward intelligent, tech-driven frameworks.
The conference brought together senior compliance officers, regulators, law enforcement agencies, technology experts, and financial sector leaders to address the growing complexity of financial crime, regulatory pressures, and technological disruptions.
In his opening remarks, ACCOBIN Chairman Adeboye Ogunmolade highlighted AI’s potential to reshape financial systems.
“The financial landscape is evolving rapidly, driven by technological advancements and increasingly sophisticated risks. AI is transforming fraud detection, transaction monitoring, and data analytics. It’s no longer about compliance for compliance’s sake, but intelligent risk management that protects the integrity of the financial system,” he said.
He emphasised ACCOBIN’s mission to help the industry shift from reactive compliance to proactive, AI-enabled risk management.
Senior officials from the Central Bank of Nigeria echoed this view. Directors from the CBN’s Banking Supervision, Consumer Protection, and Compliance departments, Yetunde Onafuwa, Abiodun Adeyemo, and Kehinde Salami, commended ACCOBIN’s collaborative efforts.
In a joint statement, they said,
“The CBN is committed to building a financial system that is resilient, inclusive, and technologically enabled. As AI becomes central to operations, regulators must ensure it is used responsibly to promote transparency, trust, and accountability. Our partnership with ACCOBIN is key to this effort.”
The Economic and Financial Crimes Commission, represented by the Head of Investigations at its Zonal Directorate 1, Shehu Ala, also underlined the need for collective action.
“Financial crimes are becoming more sophisticated. Banks and regulators must adopt equally advanced tools. We are co-gatekeepers of Nigeria’s financial system, and our vigilance, especially with AI, is vital to protecting economic integrity,” he said.
Global consulting firms KPMG and Deloitte presented papers highlighting how AI-driven risk frameworks can boost fraud detection, anti-money laundering efforts, and cybersecurity. They stressed that compliance must evolve alongside threats.
ACCOBIN said insights from the conference would inform best practices, guide policy advocacy, and accelerate innovation in Nigeria’s financial ecosystem.
“Our goal is a financial system that is not only compliant but also intelligent, resilient, and future-ready,” Ogunmolade concluded.
