E-Business
To make ePayments more acceptable, Nigeria needs to curb fraud

By Victor Irechukwu, Head of Engineering, OnePipe
When a credit alert drops on your phone, chances are you will get excited. Even if it wasn’t a surprise and you were expecting that money. But when it is a debit alert, there’s also a certain type of gloom you feel; you want money to keep coming in but as little as possible of it going out.

Victor Irechukwu, Head of Engineering, OnePipe
It may be safe to say most of us feel that way.
Now, imagine the debit alert was for a transaction you know nothing about. A commonly reported theme has been alerts that your card was used to make deposits on a gambling website, whereas you may never have even indulged in gambling your entire life.
At other times, you are shown a debit alert by someone who wants to purchase goods or services from you, but only later realise they showed you what has now been termed ‘fake alerts’. By this time, your goods, for instance, would have been long gone.
In recent months, social media has been awash with reports of money literally growing wings and leaving some people’s accounts to those of other people without authorisation. Many of these cases have gone viral on social media, causing embarrassment for the banks involved – The issues are either quietly – or corrected with public acknowledgement. But not all are resolved, at least not yet.
As much as the country and even individuals would like to go cashless, these bad experiences leave a sour taste in the mouth, and they have continued to rain on the parade as Nigeria marches towards a cashless economy. It must be stressed that a cashless economy does not mean theft of money will stop, what it does is to change how thieves go about it. But more importantly, it also doesn’t mean thefts must occur, at least not if systems are strengthened and the right protocols are put in place.
In the electronic world, an article on The Balance Money describes hackers as the bank robbers and muggers and in a cashless society we are all exposed to them. According to the Nigeria Inter-Bank Settlement System Plc (NIBSS), growth in the use of electronic channels, specifically mobile devices has also enticed fraudsters into focusing their efforts on these electronic channels.
When an attack is successful and the culprits are able to drain funds from your account, you could be effectively left stranded. God forbid you needed that money for a life threatening emergency because that could be the end unless you are one of the lucky few whose funds get recovered in a place like Nigeria – and on time too.
Agusto & Co.’s ‘2022 Consumer digital banking satisfaction index for Nigerian banks’, found that approximately 59 percent of respondents had been fraud victims on the digital platforms of their banks.
The figures in terms of number of attacks, success rate and amounts lost remain a source of concern. By the third quarter of 2022, the total number of frauds & forgeries cases reported by Nigerian banks was 19,314 as against 27,356 incidents reported in the second quarter of 2022.
But there’s more. While the number of attacks represents a 29.40 percent decrease between the periods, the total sum reported to be involved in fraud cases increased by 9.50 percent to N9.62 billion from N8.78 billion in Q2 2022. Also, for the total amount lost due to fraud incidents, there was a significant increase of 207.94 percent from N1.17 billion in the second quarter of 2022 to N3.62 billion in the third quarter of 2022.
In essence, the number of attacks may have decreased within that particular period, but more money was lost to the fraudulent attacks.
These insights were provided in the Q3 2022 report by FITC, an organisation mandated to receive data on fraud from all Nigerian banks and prepare quarterly reports. The figures show that the highest number of occurrences were recorded under computer/web fraud followed by mobile fraud which includes fraud activities through USSD transactions and ATM related fraud.
BusinessDay had even reported that every day between January and March 2022, there was an average of 450 incidents of frauds and forgeries against Nigerian bank customers. In those three months, the attackers targeted N14.65 billion, with Computer/Web Fraud responsible for N10.57 billion (72.18 percent), and Mobile Fraud recording 1.48 billion (10.08 percent).
Those 40,522 attacks had resulted in N1.54 billion lost by bank customers. Computer/Web Fraud accounted for 70.51 percent (N1.07 billion), followed by Mobile Fraud accounting for 17.58 percent (N270.92 million) at the time.
Going back a bit, data by NIBSS also showed that fraud attempts via mobile channel saw a 330 percent increase year-on-year (YoY) between 2019 and 2020, while attempts via web and POS channels saw a 173 percent and 215 percent increase YoY. In those nine months, 96 percent of the attacks were successful and there were 46,126 of such attacks.
“This trend is expected to continue as Nigeria further grows financial inclusion and customers become increasingly dependent on electronic channels for their day-to-day transactions,” said NIBSS. In other words; things are expected to get a lot worse, according to the organisation described as Nigeria’s central switch for the financial industry.
Fraud is and has always been a large threat to commerce and e-payment transactions. It is impossible to totally eliminate the chance of fraud, but applying timely measures and ensuring the use of secure payment infrastructure can help reduce or even eliminate these risks. Security should continue to be top priority for every party involved in ePayment transactions. Fraud prevention involves taking measures to stop fraud from occurring and taking steps to detect frauds quickly (when they occur) and stop them as soon as possible. Different techniques for preventing and detecting frauds are required as there are different types of fraud in e-payment transactions.
Awareness of these risks by merchants, consumers and individuals plays an important role in reducing fraud in e-payment transactions. Merchant awareness and education is important – they should be aware of the types of frauds, implications and application of best practices. Consumer awareness and education is also important in order to reduce identity theft or payment data theft. This would help the individual in adopting an active and cautious attitude when carrying out electronic transactions. It could teach them to be aware of possible risks, avoid e-scams, and minimise giving vital information to merchants (or other parties) when carrying out electronic payments.
E-Business
InnovateAI Lagos 2026 to Champion Responsible AI Across Africa

AI in Nigeria, the nation’s leading force in artificial intelligence advocacy and development, today announced the third edition of its flagship annual conference, InnovateAI. The 2026 conference will be a defining moment in the country’s technological evolution, with the theme: “Responsible AI beyond Innovation.”
Building on the successes of its previous editions, InnovateAI 2026 is poised to shape the national conversation on the critical issues of ethics, security, and governance in artificial intelligence. The inaugural InnovateAI 2024, themed “Adapting AI for Nigeria,” successfully catalysed policy discussions and attracted over 4,000 physical attendees, including AI Innovators, Academia, Researchers and Policy Makers engaging in public and private sector discourse on AI.
The recently concluded 2025 conference, themed “Scaling AI Adoption in Nigeria,” expanded the event’s reach to over 6,000 physical participants, with live-streaming to twelve AI in Nigeria’s community hubs in the six geopolitical zones of Nigeria. The conference addressed systemic challenges to scaling AI – talent, data, and compute infrastructure.
The 2026 edition represents a crucial strategic evolution. As AI becomes more deeply integrated into daily life, this conference will shift its focus from adoption to a deep dive into the foundational principles necessary for sustainable and trustworthy growth.
In addition to showcasing responsible AI innovations across industries, the conference will feature a series of focused sessions to explore these vital topics:
- AI Governance in Africa: Establishing a framework for a trusted future.
- Deepfakes, Fraud & Security Risks: Protecting Nigeria’s Digital Society from Emerging Threats.
- AI & Financial Services: Building trust in the fight against fraud and ensuring secure transactions.
- Digital Literacy for All: Preparing citizens for the age of AI through education and empowerment.
- Responsible AI Innovation: Balancing safety and growth to support Africa’s burgeoning startup scene.
“AI is reshaping industries, economies, and societies at an unprecedented pace, but innovation without trust and governance risks leaving people behind. InnovateAI 2026 is a platform to ensure Africa defines its own AI future—one where ethics, inclusivity, and safety guide progress,” said Ehia Erhaboh, Co-Convener, AI in Nigeria.
InnovateAI 2026 is poised to bring together policymakers, industry leaders, technology experts, and the public to forge a path forward that ensures AI serves as a force for good, fostering inclusive opportunities, improving healthcare, and enabling smarter governance.
Organizations looking to shape Africa’s AI future are invited to become a partner or sponsor for InnovateAI 2026. This is a unique opportunity to demonstrate leadership in the responsible AI movement, gain targeted visibility among key stakeholders, industry leaders, policymakers, innovators, and investors – positioning themselves at the forefront of Africa’s responsible AI movement. Your support will directly contribute to a vital national dialogue on AI governance and digital literacy, helping to create a safer, more inclusive, and prosperous future for Nigeria and Africa as a whole.
“This is not just a conference, it’s a catalyst for shaping Africa’s digital future,” said Dotun Adeoye, Co-Convener, AI in Nigeria. “Our partners’ support is essential in building a more equitable, secure, and prosperous AI ecosystem for Nigeria and beyond.”
E-Business
Experts Seek Engagement on AI Adoption for Governance Standards

Experts have said that the rapid adoption of Artificial Intelligence, which is transforming operational models and governance structures, has prompted the need for multi-stakeholder engagement to define principles and minimum standards for AI governance across corporate and public institutions.
The stakeholders will include government, regulators, the private sector, civil society, and academia.
The governance experts believe that introduction of principles and standards for AI adoption would assist to mitigate the risks associated with the new technology while enhancing its benefits
The experts spoke at 49th Annual Conference of the Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN) recently on “Reimagining Governance: Navigating the Artificial Intelligence Revolution for Excellence”.
Leading the discussion, Femi Oyenuga, Group Executive Director, Chams Holding Company said mitigating the risks associated with AI requires institutional design choices, laws, standards, and professional norms that are proportional and adaptable.
He advised large corporates and regulated entities to conduct AI Impact Assessments (AIIAs ) prior to deployment, and make high-level summaries available to relevant regulators and stakeholders.
Oyenuga also advised boards to adopt explicit responsibilities for AI oversight, including appointment of a responsible executive and periodic independent algorithmic audits.
He encouraged for the establishment of ICSAN Centre for Digital Governance which should be a specialist unit to provide training, advisory services, and a repository of tools (impact assessment templates, algorithmic registers, procurement checklists).
According to him, AI revolution compels a recalibration of roles, rules, and capacities for governance professionals whose mandate is to safeguard integrity, transparency, and fiduciary responsibility. He said this recalibration is pressing for Nigeria.
Senator Udo Udoma, who was chairman of the occasion agreed that there are benefits of AI but said professionals should also consider ways of minimizing the risks associated with the technology.
Udoma listed some of the benefits to include; enhanced productivity, the ability to automate routine tasks,real-time decision-making; the ability of decision-makers such as governments, investors, boards, to instantly process, analyze, and receive a vast amount of data, thereby leading to faster and more accurate decision-making.
The risks of AI, he said include technology over-dependence without adequate human oversight, cyber security and data risks, ethical issues and inaccurate decisions that are based on data errors or algorithmic flaws.
Speaking earlier, Uto Ukpanah, President of ICSAN said Nigeria cannot afford to stand aloof from AI revolution.
“As professionals in governance and administration, we have a responsibility to lead the conversation on how AI can be harnessed ethically, responsibly, and effectively to improve our institutions”.
She said ICSAN seeks to ensure that professionals and policymakers do not merely react to AI but proactively shape its application in ways that benefit society.
E-Business
NITDA Empowers 3,600 Teachers Nationwide to Lead Nigeria’s Digital Literacy Transformation

National Information Technology Development Agency (NITDA) has intensified its efforts to transform Nigeria’s education sector by equipping teachers with essential digital skills under its flagship initiative, Digital Literacy for All (DL4ALL).
In a significant step toward this goal, the Agency has commenced a two-day physical training programme for teachers drawn from the 36 states of the federation and the Federal Capital Territory (FCT), Abuja.
The Abuja training, which began on September 18, 2025, builds on more than two weeks of intensive virtual sessions that had already reached and empowered 3,600 teachers across the country.
These virtual sessions provided foundational digital knowledge and prepared participants for the more practical, hands-on physical training.
The programme is being implemented in collaboration with the Universal Basic Education Commission (UBEC) and the National Senior Secondary Education Commission (NSSEC), reflecting a strong synergy among critical stakeholders in Nigeria’s education sector.
Together, these institutions are working to ensure that teachers at both basic and secondary levels gain the capacity to deliver education that is relevant for the digital age.
A central focus of the Abuja session is the empowerment of selected participants as Master Trainers. Through a structured train-the-trainer approach, Master Trainers will cascade the skills they have acquired to thousands of teachers within their respective states and communities, thereby amplifying the overall impact of the initiative and ensuring sustainability.
Beneficiaries of the training have expressed great enthusiasm and appreciation for the opportunity. Tanko Abdulkareem, a participant from Kuje Area Council, described the programme as a transformative experience that had broadened his understanding of digital applications in the classroom.
He noted that the training would enhance his ability to support colleagues and positively influence the learning experience of his students.
Similarly, Muhammad Ademu from the Abuja Municipal Area Council (AMAC) hailed the initiative as “a timely and life-changing intervention,” pointing out that it would significantly contribute to repositioning education in Nigeria for the realities of the 21st-century digital economy.
For Bamidele Gbenga Samuel, a teacher at Government Secondary School, Gwagwalada, and staff of the FCT Secondary Education Board, the training is equipping teachers with the tools to bridge the digital divide that has long limited effective classroom teaching.
He emphasised that teachers, as the bedrock of learning, must themselves be digitally literate to properly prepare students for future opportunities.
Adding her voice, Miss Veronica Miapie of the FCT Secondary Education Board described digital literacy as no longer optional but a necessity for both teachers and students.
She commended NITDA and its partners for prioritizing the capacity-building of educators, stressing that the long-term benefits would ripple across generations of learners.
Through its Digital Literacy and Capacity Building (DLCB) department, NITDA has consistently demonstrated its commitment to expanding access to digital knowledge in Nigeria.
The DL4ALL initiative, of which this training is a major component, is part of NITDA’s broader mandate to align Nigeria with global trends in technology adoption and prepare citizens for a knowledge-driven economy.
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