The National Information Technology Development Agency (NITDA) has declared that artificial intelligence (AI) and cyber resilience will be the twin engines powering Nigeria's next banking era. The Director General of NITDA, Kashifu Inuwa Abdullahi, made this assertion during a keynote address at the 2026 Banking and Finance Conference in Abuja.
AI as a Catalyst for Banking Transformation
Abdullahi emphasized that AI is no longer a futuristic concept but a present-day tool that can revolutionize banking operations, customer service, risk management, and fraud detection. He noted that Nigerian banks must adopt AI to stay competitive globally and meet the evolving demands of tech-savvy customers. According to him, AI can automate routine tasks, provide personalized financial advice, and enhance decision-making through predictive analytics.
The DG highlighted that NITDA is working on a national AI strategy to guide the adoption of AI across sectors, including banking. He stated, 'We are committed to creating an enabling environment for AI innovation while ensuring ethical use and data privacy.'
Cyber Resilience: The Foundation of Trust
Turning to cybersecurity, Abdullahi stressed that cyber resilience is critical for maintaining customer trust and financial stability. He pointed out that the banking sector is a prime target for cybercriminals, and a single breach could have devastating consequences. 'Cyber resilience goes beyond prevention; it's about the ability to anticipate, withstand, recover from, and adapt to adverse cyber events,' he said.
NITDA has been collaborating with the Central Bank of Nigeria (CBN) and other stakeholders to strengthen the cybersecurity framework for financial institutions. The agency has also launched initiatives to build local capacity in cybersecurity, including training programs and cybersecurity awareness campaigns.
Data Protection and Privacy
In the age of AI and digital banking, data protection and privacy are paramount. Abdullahi reiterated NITDA's commitment to enforcing the Nigeria Data Protection Regulation (NDPR) to safeguard customer information. He urged banks to adopt privacy-by-design principles and ensure transparency in how they collect, process, and store data.
The DG also announced that NITDA is developing a code of practice for AI to address ethical concerns, bias, and accountability. 'We want AI that is fair, transparent, and accountable,' he added.
Collaboration and Innovation
Abdullahi called for greater collaboration between the public and private sectors to drive innovation in banking. He revealed that NITDA is setting up innovation hubs and sandboxes to allow fintech startups and banks to test new technologies in a controlled environment. 'Innovation thrives when there is collaboration, and we are creating platforms for that,' he said.
The conference also featured panel discussions on topics such as digital currencies, open banking, and the role of regulators in fostering innovation. Industry experts agreed that Nigeria is at a tipping point, and the right investments in AI and cybersecurity will determine the future of its banking sector.
