General News
How AI is transforming the financial services industry

By Ibrahim Youssry – Regional General Manager, North, West, East, Central Africa, Levant & Pakistan, Microsoft
Digital transformation is remaking the world around us, and artificial intelligence (AI) is a frontrunner. No industry will be left untouched by this digital journey, but one sector that is seeing the fastest and most fundamental effects is the financial services industry (FSI).
FSI players are geared to be dramatically disrupted by the power of AI – both internally (in the ways they operate) and externally (in terms of dealing with clients and customers).
A 2018 report from the World Economic Forum (WEF) on The New Physics of Financial Services unpacks this phenomenon at length, but one high-level take-away is that the AI changes here cannot be overstated. The long-term impacts of AI are radical and transformative, putting the FSI ecosystem into a period of reorganisation.
Competition from the underdogs
FSI has traditionally been dominated by large and established corporations, often with extensive heritage and market dominance. Through this, many FSI companies have enjoyed relatively low competition for customers, and have been slow to innovate and change ‘with the times’. Enter the leveling power of the cloud, accessible analytics and machine learning, and we see how a scrappy, determined fintech startup can disrupt a whole market or sector.
Many of these startups offer alternatives for banking, payments, transfers, payroll, credit, and other financial services. These digital-first businesses are highly agile, and are creating a whole new customer base that was underserved by established FSI companies – putting the pressure on older firms.
As a result, many FSIs have started embracing cloud technology and artificial intelligence (AI) to improve their own agility, their array of service offerings, and their customer experiences. Recent studies suggest that approximately 40 percent of African banking customers prefer to use digital channels for transactions over branch channels.
Added competition is good for the entire industry, and customers will benefit from new and improved technologies that change the way the industry interacts with them and meets their expectations.
AI at the core of digital transformation
But just what form do these advances take? AI lies at the heart of things like chatbots, advanced customer credit assessment, relationship management, security, anti-money laundering and fraud detection.
Chatbots draw from big data and machine learning to respond to customer queries and concerns. They can streamline customer support on routine services like banking transactions, and make product recommendations. This is customer-facing AI that helps FSI companies be ever-present for their clients, while reducing the resources required to do so.
For fraud detection, AI-powered technology enables computers to mimic, extend and amplify the thought process of a human analyst, at a pace and scale unmatched by humans. It can review trillions of transactions in every possible portfolio in the organisation. Because of this, banks, fintechs and payment facilitators are able to detect or be alerted to potential fraud – receiving fast, efficient and accurate alerts of the likelihood of an individual’s card or account being compromised, for example.
Foresight beats hindsight
AI and analytics can draw inference from vast stores of data and spot trends that are often beyond the possible scope of human sight, driving insight to analysts, investors and the like. AI is also able to evaluate an organisation’s public remarks and documents, bundle that up with sentiment analysis, and cross-correlate this with historical data to predict the performance of upcoming stocks, in literal split seconds.
These functions provide agility and resilience in an increasingly risky global market. In short, they inject a new level of intelligence into our organisations. Pairing this with our unique human capabilities of relationship management and creativity, and we unlock huge potential for our FSI companies.
Safe as houses, and more democratic
Through Microsoft’s security solutions (in which we have invested more than $1 billion year-on-year), we are working with FSI organisations to improve their security standards globally. Solutions such as the Customer Lockbox for Microsoft Azure, for example, assists customers with controlling and auditing support engineers’ access to compute workloads on Azure that may contain data while resolving the support issue.
These solutions have a proven success record, evidenced by our work with Interswitch, a payments and fintech innovator in Africa. Through partnering with large banks and corporates in Nigeria, Interswitch has been able to build a bank-guarantee service on Azure that extends the reach of banking systems to non-traditional players, corporate suppliers and borrowers – allowing them to manage their supply chain financing under objective terms and transparency.
Within the next decade, Africa’s objective is to ensure that the next 100 million Africans are financially included. AI has the potential to achieve this. As AI adoption increases, we’re constantly thinking about how we can help institutions make the transition to modern innovations, while still taking advantage of legacy investments.
General News
T2 Backs Youth Excellence as NCBC Wins Bosun Tijani Foundation Basketball Tournament

T2 has reaffirmed its commitment to youth development and excellence through sport as the NCBC basketball team, adopted by the brand, emerged champions of the Bosun Tijani Foundation Youth Basketball Tournament held at the Alake Sports Complex, Ijeja, Abeokuta.

The tournament, organised by the Bosun Tijani Foundation in collaboration with the Ogun State Government and supported by several partners including T2, brought together 12 competitive teams from across Nigeria, positioning basketball as a powerful platform for youth engagement, discipline, and opportunity.
NCBC’s championship run reflected the values T2 seeks to champion, work ethic, intelligence, teamwork, and resilience. The team recorded commanding victories over Team Vision, Warlords, and Elevate before defeating the Ilupjeu Raiders 66–52 in a gripping final.
Commenting on the adoption of the team, Seni Ogunkola, Vice President, Brands and Communication, T2 stated “NCBC embodies the qualities we believe in, exceptional work rate, intelligence on the ball, discipline, and a hunger to excel. By supporting them, T2 is investing in potential, purpose, and the next generation of leaders on and off the court.”
The climax of the event saw His Royal Highness, Oba Adedotun Gbadebo, the Alake of Egbaland, alongside Nigeria’s Minister of Communications and Digital Economy, Bosun Tijani, present the trophy to the victorious team, drawing rapturous applause from spectators. The event was also attended by the Chief of Staff to Ogun State Governor Dapo Abiodun, Mr. Lere Olayinka, and the Ogun State Commissioner for Sports, Honourable Wasiu Isiaka, underscoring strong institutional support for youth-focused initiatives.
Through its participation in the tournament, T2 continues to position itself as a brand that goes beyond sponsorship, championing platforms that unlock talent, inspire ambition, and create lasting social impact for Nigerian youth.
General News
Ecobank Guarantees Seamless Digital Banking Services Throughout the Christmas and Year-End Period

Ecobank Nigeria, a member of Africa’s leading pan-African banking group, has assured customers of uninterrupted access to banking services throughout the year-end holiday period via its secure and robust digital platforms. The Bank also urged customers to remain vigilant against fraud and scams during the festive season.

Ecobank Bank
Speaking on the development, Victor Yalokwu, Head, Products & Analytics, Consumer & Commercial Banking, Ecobank Nigeria, said the Bank’s digital channels – including the Ecobank Mobile App, Ecobank Business App, USSD *326#, Ecobank Online, OmniPlus, Omnilite, EcobankPay, RapidTransfer, Ecobank Cards, ATMs, PoS terminals, and over 35,000 Ecobank Xpress Point (Agent Banking) locations nationwide – will remain fully available to support customers throughout the yuletide and year-end holiday period.
He noted that customers will continue to enjoy a wide range of services during the period, including local and international funds transfers, bill payments and airtime top-ups, merchant payments, balance inquiries and account statements, as well as cardless cash withdrawals via ATMs.
According to Yalokwu, “Ecobank encourages customers to leverage these digital solutions for safe, fast, and efficient banking, especially during the festive season when convenience and reliability are essential.
“While physical branch operations may be subject to adjusted working hours in line with public holidays, customers can be assured that Ecobank’s digital platforms are designed to deliver uninterrupted service and enhanced security at all times.
“Ecobank remains committed to providing innovative financial solutions and exceptional customer service, and we wish all our customers a joyful festive season and a prosperous New Year.”
Yalokwu also cautioned customers to remain vigilant against fraudsters and scammers during the period. “Before you wrap up the year, tighten your security. December brings online sales, travel, and year-end distractions—this is exactly when scammers are most active. From fake festive deals to cloned merchant sites and suspicious messages, staying vigilant helps keep your money safe.”
He advised customers to shop only on trusted websites, never share their PINs, passwords, or one-time passwords (OTPs), avoid banking on public Wi-Fi networks, be cautious of urgent or emotionally charged messages, and regularly review their account activity.
General News
Woherem Proposes Pragmatic Roadmap to End Terrorism and Banditry in Nigeria

Dr. Evans Woherem, an award-winning African technology researcher, analyst, and writer, has proposed a comprehensive and implementable strategy to end terrorism, banditry, and criminal violence in Nigeria, warning that the country’s prolonged insecurity has reached a critical point that demands urgent, coordinated action.

Titled “A Comprehensive Strategy for Ending Terrorism, Banditry, and Criminal Violence in Nigeria: A Pragmatic, Multi-Layered, and Implementable Framework,” the paper presents a holistic roadmap designed to reverse more than a decade of escalating violence that has claimed thousands of lives, displaced communities, weakened local economies, and eroded public trust in governance.
According to him, insecurity has become deeply entrenched in everyday life across the country. “Terrorism, banditry, and criminal violence have become so commonplace that they now dominate daily conversations among Nigerians,” Dr. Woherem noted, adding that while the crisis is most acute in the North-East, North-West, and North-Central regions, “its effects are now being felt even in the southern parts of the country.”
Citing the 2025 Global Terrorism Index, which ranks Nigeria sixth globally in terms of terrorism impact, Dr. Woherem described the ranking as “a sobering statistical confirmation that terrorism still weighs heavily on the Nigerian state.”
The paper traces the roots of the crisis to the emergence of Boko Haram in 2009 and the subsequent rise of splinter groups such as ISWAP. It recalls high-profile incidents including the 2014 abduction of schoolgirls in Chibok, the Dapchi and Kankara kidnappings, and a series of mass abductions and attacks on schools and places of worship recorded in 2025.
Dr. Woherem observed that banditry, largely driven by ransom payments, “has spread across the entire nation, creating fear, weakening productivity, and pushing millions of households deeper into poverty.”
While acknowledging the role of military action, the author cautioned against relying on force alone. “Nigeria cannot defeat insurgency and violent crime through arms and ammunition alone,” he said. “Any sustainable solution must confront the internal conditions that allow insecurity to thrive.”
Among the key drivers identified in the paper by Dr. Woherem, are porous borders, arms proliferation, youth unemployment, economic stagnation, and persistent conflicts over land and resources, challenges Dr. Woherem stressed can be addressed through “a deliberate, intelligence-led, and whole-of-society approach.”
At the heart of the proposed framework, Woherem noted, is a call for intelligence-driven security operations, including the establishment of a National Counter-Insurgency and Intelligence Fusion Centre. “Security operations must be guided by accurate, actionable intelligence rather than fear-led mass actions that often harm civilians and undermine public trust,” he stated.
The paper also advocates comprehensive policing reforms, including the creation of constitutionally backed state police systems supported by a more specialized federal police structure. “Nigeria’s over-centralised policing model is structurally incapable of effectively addressing widespread criminality across such a vast and diverse country.”
Recognising the realities at the grassroots, Woherem calls for the formal regulation of community-based security groups, and noted that “ignoring vigilante groups is dangerous, and banning them outright is unrealistic,” but stressed that their roles must be clearly defined, regulated, and subject to strict oversight.
On border security, particularly in the Lake Chad Basin, the author warned that instability in neighbouring countries continues to fuel Nigeria’s insecurity. “No permanent solution is possible without deep regional cooperation,” he said, advocating an Integrated Border Management system supported by joint operations with neighbouring states.
The paper places strong emphasis on prevention through economic inclusion, youth employment, and skills development. “Jobs and income remain the most powerful tools for preventing recruitment into violent groups,” Dr. Woherem asserted, adding that immediate livelihood opportunities significantly weaken the appeal of extremist narratives.
He also called for structured deradicalisation and reintegration programmes, noting that “a humane, community-accepted process is essential for breaking cycles of violence and preventing relapse into extremism.”
Dr. Woherem further emphasised the need for governance reforms and accountability in the security sector. “Without transparency, oversight, and institutional integrity, even the best security strategies will fail,” he warned.
The white paper outlines a phased implementation plan from 2025 to 2030, beginning with intelligence fusion, pilot state police initiatives, community security registration, drone surveillance, and financial crackdowns on terror networks, before expanding into nationwide reforms and long-term consolidation.
Concluding, Dr. Woherem expressed cautious optimism about Nigeria’s future. “Nigeria can overcome this prolonged phase of insecurity,” he said, “but only through political will, coordinated institutions, and the active participation of society.”
He added that the proposed framework offers “a realistic pathway to restoring security, rebuilding public trust, and unlocking Nigeria’s vast human and economic potential.”
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