Prembly and MTN host Fraud Intelligence Summit to enhance collaboration against financial fraud in Nigeria

The summit, themed "Collaboration Over Competition: Building an Anti-Fraud Ecosystem," aimed to strengthen industry-wide collaboration against financial fraud. Participants included representatives from the Central Bank of Nigeria CBN, the Nigeria Data Protection Commission NDPC, the Economic and Financial Crimes Commission EFCC, MTN, the National Cybercrime Centre NCC, and various banks and fintechs. Ms Omoyemen Jide-Samuel, Director, Information Technology, Central Bank of Nigeria, emphasized the need for a coordinated response to fraud, stating that it transcends institutional and national boundaries.

Discussions focused on accelerating intelligence sharing, strengthening data exchange governance, leveraging AI for threat detection, and building cross-sector partnerships. A key recommendation was the establishment of a real-time fraud intelligence network to enable collaborative detection, sharing, and response to fraud. Lanre Ogungbe, CEO of Prembly, highlighted the need to combine the speed of fintechs, the expertise of banks, and the oversight of regulators to combat sophisticated threats.

The summit is intended to be an annual platform for advancing industry collaboration against financial crime.