The chairman of the Nigerian Economic Summit Group, Niyi Yusuf, has called on players in the financial sector to take a leading role in shaping a responsible and inclusive artificial intelligence future.
Yusuf, who is also the managing partner at Verraki Partners, said this at the 2025 Stakeholders Conference organised by the Association of Corporate Affairs Managers of Banks, under the theme ‘AI & the Future of Trust: Reimagining Banking and Financial Services in a Digital-First Era.’
Established in 1996, ACAMB serves as the umbrella body for managers and public relations professionals within the Nigerian banking sector.
In his keynote address, Yusuf highlighted the transformative potential of AI and emphasised the urgent need for ethical governance, human-centric design, regulatory support, and local innovation to ensure that the benefits of AI are maximised while risks are effectively mitigated.
He said, “Like other technologies before it, we must be deliberate to maximise the benefits and mitigate the risks of AI.”
Yusuf called on players in the financial sector to “define trust parameters and AI guardianship to enable consent-driven systems to promote trust and inclusion. Foster ethical AI development and human-centric design while building awareness, literacy, skills, and talent development to promote an inclusive AI ecosystem. Promote explainability, transparency, and accountability in AI systems through regulations, data privacy, and consumer protection.
“Local regulators/regulations should encourage innovation, local datasets, and consumer protection and enhance international collaborations on AI to reduce cost and support AI startups, entrepreneurs, and the ecosystem to ensure failures are not fatal and we are not only AI consumers.”
The Verraki Partners boss hammered on the fact that trust has become a new currency in this era, saying, “The future of AI in banking is not just about automation or efficiency; it’s about trust: earning and maintaining customer confidence in a digital-first world.”
He spotlighted some of the key areas of concern, including data integrity, noting that AI models are only as trustworthy as the data they ingest and others.
He averred, “Data Poisoning: Malicious inputs subtly corrupt models and can lead to harmful outcomes, especially in sensitive areas like lending or fraud detection. Transparency: Customers and regulators demand clarity and transparency about the actions taken by AI systems. Explainability and accountability: AI systems must be able to explain their decisions, especially in sensitive areas like credit scoring or compliance.”
In his welcome address, the President of ACAMB, Rasheed Bolarinwa, said the industry was on the threshold of a transformative era, “one driven by artificial intelligence, digital technologies, and a redefinition of customer expectations in banking and financial services. Our mission at ACAMB has always been to foster excellence in corporate communications and stakeholder engagement across the banking industry. This conference embodies that purpose by convening thought leaders, innovators, regulators, and practitioners to shape the future of our industry responsibly and sustainably.
“Let us ask bold questions, challenge assumptions, and collaborate toward building a financial ecosystem where trust is not just maintained but enhanced by technology.”
