Umaru Kwairanga, the chairman of the Nigerian Exchange Group, has urged financial sector stakeholders to adopt artificial intelligence to drive efficiency and enhance customer satisfaction.
Mr Kwairanga made this call in Lagos on Thursday while speaking at the SUPERNEWS Artificial Intelligence Confab held in Lagos.
The theme of the conference was ‘The Power of AI: Enhancing Efficiency and Customer Satisfaction for Better Financial Services Experience’.
He said AI was one of the most transformative technologies of our time and should be adopted to make Nigeria’s financial sector globally competitive.
“AI is not just a trend. It is the future. Financial institutions must use it to boost efficiency and meet rising customer expectations,” he said.
He added that although Nigeria’s financial services sector is vibrant, challenges remain that AI-powered innovation and intelligent automation can help solve.
Mr Kwairanga urged industry players to tackle issues such as power shortages, weak data systems, and limited capital access through strategic collaboration and the adoption of AI.
“Recent data from the National Bureau of Statistics shows that services drive Nigeria’s economy, with financial services being the most active part.
“It is doing well in many ways, but we all know there’s still considerable room for improvement.
“Much of this improvement can come through artificial intelligence, which offers practical and scalable solutions.
“Let us address Nigeria’s unique issues — power, data, and capital — so our sector leads this next global business revolution,” he said.
Mr Kwairanga said that embracing AI is not only about following global trends but also about solving local problems and improving service delivery for millions of Nigerians.
He reaffirmed NGX Group’s commitment to supporting innovation, inclusion, and sustainable growth in Nigeria’s financial markets.
