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By Providence Ayanfeoluwa
The Group Managing Director and Chief Executive Officer, United Bank for Africa, UBA Plc Mr Oliver Alawuba, has called on internal auditors across the banking industry to embrace artificial intelligence, AI, as the sector navigates a rapidly changing digital landscape.
Alawuba made the call at the Association of Chief Audit Executives of Banks in Nigeria, ACAEBIN’s 64th Quarterly General Meeting, QGMs, held in Lagos with the theme, “Internal Audit Function in the AI Era”.
Speaking in a keynote, Alawuba who was represented by Executive Director, Finance & Risk Management, Ugo Nwaghodoh, said AI is already transforming banking operations, from fraud detection and risk assessment to customer service and transaction monitoring.
He explained that while technology presents significant opportunities for efficiency and innovation, it also introduces new risks that require stronger governance, oversight, and assurance mechanisms.
He stated: “For us, technology is not replacing the auditor. It is strengthening
