The Association of Chief Compliance Officers of Banks in Nigeria has advocated for the integration of artificial intelligence and advanced technologies in risk management to bolster financial integrity across the banking sector.

The call to action was made at ACCOBIN’s 2025 Annual Stakeholders’ Conference, held in Lagos, themed Beyond Compliance: AI, Risk, and the Future of Financial Integrity.

The conference convened senior compliance officers, regulators, law enforcement agencies, technology experts, and financial sector leaders to tackle the escalating challenges of financial crime, regulatory pressures, and technological disruptions.

Stakeholders emphasized the need to shift from traditional compliance checklists to intelligent, technology-driven frameworks to address these complexities effectively.

In his opening remarks, ACCOBIN Chairman, Adeboye Ogunmolade, underscored AI’s transformative potential in reshaping financial systems, enabling banks to enhance risk detection and ensure robust compliance.

“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 said ACCOBIN aims to help the industry shift from reacting to risks to using AI to prevent them.

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.”

Global consulting firms KPMG and Deloitte presented papers showcasing how AI-driven risk frameworks enhance fraud detection, anti-money laundering, and cybersecurity.

They emphasised the need for compliance to evolve in step with emerging threats.

ACCOBIN noted that insights from the conference would shape best practices, support policy advocacy, and drive innovation across Nigeria’s financial ecosystem.