Category: Business Day

Artificial intelligence (AI) is revolutionizing travel planning, delivering personalized itineraries and cost-saving deals with remarkable ease.

However, a Kaspersky survey conducted in summer 2025 with 3,000 respondents across 15 countries, including the United States, United Kingdom, China, and South Africa, reveals a critical concern as 86 percent of travelers using AI for trip planning are wary of data security risks.

This widespread apprehension underscores the hidden dangers behind AI’s convenience, as travelers navigate the balance between efficiency and protecting their personal information.

The survey highlights AI’s appeal: 73 percent of users value its time-saving capabilities, 65 percent appreciate personalized recommendations and local attraction insights, 63 percent seek budget-friendly offers, and 61 percent rely on it for hard-to-find information.

Parents favor tailored suggestions (68 percent) more than those without children (60 percent), while older travelers (55+) prioritize unique recommendations (65 percent) over personalization (60 percent).

This broad adoption across demographics showcases AI’s growing role as a versatile travel assistant. Yet, the risks of AI travel planning are significant. Nearly half of respondents (48 percent) hesitate to share sensitive data, such as IDs or payment details, due to fears of data breaches or misuse.

Another 37 percent exercise caution despite fewer concerns, contributing to the 86 percent who prioritize data security.

Notably, there have been instances where travelers faced issues after trusting AI-generated recommendations without verification, including falling for scams or encountering malicious phishing links embedded in AI outputs.

These incidents highlight the potential for AI to inadvertently expose users to cyber threats, especially when handling tasks like booking hotels or tickets that require personal information. Younger travelers (18-34) are particularly cautious, with 52 percent reluctant to share data, compared to 42 percent of those over 55, though 44 percent of the latter still practice selective sharing.

Regional variations further illuminate the issue. Travelers in Spain, the UK, Indonesia, Malaysia, and South Africa express heightened caution, while those in China, the UAE, and Saudi Arabia show greater trust in AI’s security.

Vladislav Tushkanov, group manager at Kaspersky AI Technology Research Center, said the survey highlights a noteworthy level of caution among travelers who use AI, which is a promising sign.

‘A rational attitude is crucial for any type of online interactions, especially when we talk about personal data sharing. After all, your ‘private’ conversations with AI can still be exposed to cyber threats, or a favorable offer discovered by a chatbot may turn out to be nothing more than a scam.

‘This doesn’t mean you should abandon these digital tools altogether. Instead, stay mindful, avoid oversharing personal information, and think carefully while choosing which task you can assign to the AI. By doing so, AI-powered services can evolve into reliable assistants that help you tackle a wide range of challenges safely and effectively,’ Tushkanov asserted.

Kaspersky shares several tips on how to stay safe while interacting with AI:

– Avoid sharing personal data with AI assistants: ID, address, passwords, or any other sensitive details. Be very selective with the resources where you upload them.

– Perform all important actions and decisions (sending emails, making purchases, booking, etc.) yourself. Assign the AI assistant only routine tasks.

– Verify links and emails AI gives you. Use reliable security solution to check all URLs and block suspicious resources, secure your online payments.

– If you choose AI as your main travel assistant make sure you have stable internet connection while staying abroad. Consider using an eSIM to have constant mobile data access.

– Do not link your main accounts with confidential data to the chatbot or any other AI powered service.

The bullish economic reforms are yielding results suitable for economic growth over the long term, even though the immediate impact does not appear to be very visible. The federal government of Nigeria has recently penned down strategic fiscal and economic reforms, of which some have been implemented immediately, while others will be implemented in 2026. Nigeria recorded a total foreign trade position of ?74.062 trillion, which consists of ?43.349 trillion (41.47%) in exports and ?30.713 trillion (58.53%) in imports, yielding a trade balance of ?12.636 trillion (17.06%) between January 2025 and June 2025.

The quarter-on-quarter results are very remarkable, as there is more alignment of Nigerian players to export more goods than import during the period under review. The total trade improved slightly by 5.59%, increasing from ?36.025 trillion to ?38.038 trillion. Meanwhile, the trade surplus surged by 44.31% quarter-on-quarter, rising from ?5.172 trillion in Q1-2025 to ?7.464 trillion in Q2-2025, as imports decreased by 0.90% from ?15.426 trillion to ?15.287 trillion and exports rose significantly by 10.45% from ?20.598 trillion to ?22.751 trillion. A further review revealed that some shortfalls from the trade that should have been recorded in March 2025 were accounted for and recorded in April 2025, resulting in March 2025 having the lowest total trade position of ?11.590 trillion, April 2025 having the second-highest total trade position of ?12.718 trillion and May 2025 having the highest total trade position of ?13.695 trillion. The total volume of trade between H1 2024 and H1 2025 is relatively stable, reflecting a slight decline of 1.94% in dollar terms. Despite the nominal naira value of the total trade increasing by 12.88% from ?65.609 trillion in H1 2024 to ?74.062 trillion in H1 2025, the average naira-to-dollar exchange rate depreciated by 15.12% from ?/$ 1346.30 to ?/$ 1549.83 over the same period.

The year-over-year export trade increased by 17.51%, rising from ?38.891 trillion in H1-2024 to ?43.349 trillion in H1-2025, primarily due to the declining value of the ?/$ exchange rate; however, the dollar value of these exports only increased by 2.08%, from $27.401 billion to $28.000 billion. On a year-over-year comparison, the imports appear to have increased by 6.94% from ?28.719 trillion in H1-2024 to ?30.713 trillion in H1-2025, while the dollar equivalent declined by 7.10% from $21.332 billion to $19.817 billion in H1-2025. Of the total export trade in H1-2025, the value of crude oil exported is ?24.921 trillion, 57.49% of total exports, with April 2025 having the lowest share of crude oil exports to total exports at 48.97% and April 2025 also having the highest share of non-oil exports to total exports at 17.02%. In a q-o-q comparison, Q2-2025 delivered the highest share of non-oil exports at 15.38%, behind Q2-2020 at 15.86% between 2020 and 2025. The value of non-oil exports in Q2-2020 was relatively high because oil prices fell to a low futures price of $37.63 per barrel, which was caused by logistics issues stemming from the Covid crisis. In H1-2025, agricultural-related exports contributed the most after crude oil and other oil-related products.

Agricultural-related exports worth ?2.961 trillion account for 6.83% of the total value of goods exported in H1-2025. The most traded commodities for this period are standard-quality cocoa beans, superior-quality cocoa beans, and cashew nuts. There are concerns, as the only processed product among the leading agricultural exports in H1-2025 is natural cocoa butter, with a total value of ?184.115 billion, a tiny fraction of 6.22% of the total agricultural exports and approximately 5% of the total cocoa exported as raw material to the other markets. Behind agriculture, the raw material value of ?1.864 trillion, a 4.30% share of total exports, was also a significant non-oil export. Urea, non-monetary gold (including gold plated with platinum), technically specified natural rubber, other preparations of cocoa powder in blocks, and leather further prepared after tanning contributed significantly in Q2-2025. The solid minerals sector recorded the lowest share of export goods in H1-2025 with a value of ?136.173 billion, 0.31% of total goods exported.

The trade surplus of ?12.636 trillion ($8.153 billion) in H1-2025 was mainly due to stable conditions, good expectations for foreign exchange rates, and stronger external reserves, making it the highest in Africa for that period, even though the average price of crude oil, Nigeria’s main trade income source, went down. The average market price for the monthly position in H1-2025 is $73.46/barrel, below the $75.00/barrel presented in the 2025 Appropriation Act, the 2025-2027 Medium Term Expenditure Framework and the Fiscal Strategy Paper for the Federal Republic of Nigeria. There are opportunities for an increase in the trade surplus balance as the economic recovery path for Nigeria is sustained over the short to medium term.

Oluwatosin Oladetan is a public policy expert, board advisor, vice president, independent director, business strategist, corporate strategist, and advisor on business transformation and project management. As a prognosticator, he has developed appropriate competencies for deploying critical thinking, analytical skills, financial modelling, leadership, project management, team management, management consulting, emotional intelligence, design thinking, strategic planning, corporate planning, change management, idea incubation, refinement, development, and transformation.

The University of Ibadan, the University of Lagos and Bayero University led the list of Nigeria’s best universities according to Times Higher Education World University Rankings 2026.

The University of Ibadan, is ranked Nigeria’s best university in the recent Times Higher Education World University Rankings 2026, published on THE’s website on Thursday.

THE rankings placed the University of Ibadan between 801 and 1,000 globally and ahead of other leading Nigerian universities, a spot it last held in 2023.

The UK-based organization surveyed 2,191 institutions from 115 countries and assessed them based on 18 performance indicators across five key areas: teaching, research environment, research quality, industry, and international outlook.

The Ibadan-based Nigerian premier university, which was ranked Nigeria’s fourth best university in 2025, was ddeclared as the country’s best in the 2026 ranking.

The University of Ibadan dethroned Covenant University, which was the best university in 2024 and 2025.

Following UI are the University of Lagos, Bayero University, and CU, ranked second, third, and fourth in Nigeria, respectively.

The 2026 list reflected a shift in the global higher education landscape, with more than 174.9 million citations from 18.7 million research publications analysed and survey responses from over 108,000 scholars collected globally.

THE rankings also show the strength of individual institutions. UNILAG is ranked highest in quality research, scoring 66.7.

BUK is ranked as the best Nigerian university in terms of international outlook, while Covenant has the highest industry score, indicating its top connection to industries.

Only UI and UNILAG fall between 801-1000; BUK, CU, and Landmark University fall between 1001-1200; while Ahmadu Bello University, Federal University of Technology, Minna, University of Ilorin, University of Jos, University of Nigeria-stand globally between 1201-1500.

Here are the list of Nigerian universities and their rankings

University of Ibadan (801-1000); University of Lagos (801-1000); Bayero University (1001-1200); Covenant University (1001-1200);

Landmark University (1001-1200); Ahmadu Bello University (1201-1500).

Federal University of Technology, Minna (1201-1500); University of Ilorin (1201-1500); University of Jos (1201-1500); University of Nigeria, Nsukka (1201-1500); Babcock University (1501+); Delta State University, Abraka (1501+); Ekiti State University (1501+); Federal University of Agriculture, Abeokuta (1501+).

Federal University of Technology, Akure (1501+); Federal University of Technology, Owerri (1501+); Federal University Oye-Ekiti (1501+); Ladoke Akintola University of Technology (1501+).

Others are Lagos State University (1501+); Nnamdi Azikiwe University (1501+); Obafemi Awolowo University (1501+); University of Benin (1501+); University of Calabar (1501+); University of Port Harcourt (1501+).

The Federal Ministry of Agriculture and Food Systems has reinstated its commitment to building a sustainable and resilient food systems in the state.

This declaration comes as part of preparations for the 2025 World Food Day which will be marked globally on Thursday October 16th.

The Ministry of Agriculture and Food Systems kicked off the series of activities to mark the 2025 World Food Day with a Road Walk on Wednesday, which would be followed by the Lagos Agric Scholars Quiz competition on Tuesday, October 14 at Adeyemi Bero Auditorium and later the grand finale on October 16, 2025 at the Police College Parade Ground, Ikeja.

Abisola Olusanya, commissioner for Agriculture and Food Systems, said the road walk was meant to create awareness and sensitise residents about the agricultural potential of the state and to galvanise support of the residents to further develop the sector.

‘People don’t see Lagos as an agrarian state, but I want to believe that under the administration of Governor Babajide Sanwo-Olu, even across Nigeria, Lagos has been very efficient in agriculture, probably we will be in the same category as Niger state,’ she said.

‘We want to continue to push that agenda for people to know that the state is an agrarian state, but it may just be in a different form and manner,’ she explained.

‘We also want to encourage the younger generation to take ownership of the Agric space and celebrate our stakeholders in the Agriculture space who have put efforts to ensure we have food on our tables,’ she added.

The 2025 World Food Day theme, ‘Hand in Hand for Better Foods and a Better Future,’ emphasises the urgent need for partnerships across governments, the private sector, development organisations, and communities to transform agrifood systems, promote healthy diets, and safeguard the environment.

From the convening point in JJT Park, Alausa, on Wednesday, farmers’ associations, food experts, members of BATNF and the Lagos ministry of Agriculture and Food Systems walked to Allen Avenue, Ikeja, singing and dancing in customised t-shirts.

Hadiza Sabuwa Balarabe, Kaduna State deputy governor, has reaffirmed the state government’s commitment under Senator Uba Sani’s administration to building a resilient and inclusive health system capable of effectively responding to public health challenges and improving access to quality healthcare for all residents.

Balarabe disclosed this when she declared open the 13th Kaduna State Council on Health, in Kaduna on Thursday.

The two-day meeting, themed ‘Global Health Security: Strengthening Health Systems for Resilience in Kaduna State,’ brought together members of the state executive council, heads of health agencies, development partners, and other stakeholders in the health sector. She noted that ‘a strong and resilient health system is not a luxury, it is a lifeline,’ adding that the government will continue to invest in health financing, innovation, technology, and human capacity to ensure that every citizen enjoys access to quality healthcare. The deputy governor also commended the support of development partners for their continued collaboration in advancing the state’s health agenda.

As part of the opening ceremony, Balarabe launched a set of policy documents produced by the State ministry of health, including the Health Sector Strategic Blueprint and other operational frameworks designed to guide implementation and coordination within the sector.

She described the Council as the highest decision and policymaking body, serving as a platform for stakeholders to review progress, address challenges, and develop actionable strategies toward achieving Universal Health Coverage and strengthening health security across the state.

Abuja, Nigeria: In what appears to be yet another desperate attempt to evade repayment of long-outstanding debts upheld by multiple court judgments, Dr. Brendan Innocent Usoro and his company, Miden Systems Limited, have been linked to an unlawful protest staged on Wednesday, October 8, 2025, at the Central Business District in Abuja.

A group of individuals claiming to represent a coalition of civil society organizations obstructed access to a Sterling Bank branch, chanting false allegations and distributing fabricated petitions designed to mislead the public about an ongoing legal matter. There is also an existing Federal High Court order, which expressly prohibits Miden Systems and its affiliates from taking any steps or actions relating to the dispute with the Bank.

The intention was unmistakable: to weaponise misinformation and public theatrics in an attempt to intimidate the Bank and distort a matter already conclusively determined by the courts. The disturbance was swiftly contained by security agencies, and normal operations resumed almost immediately. At no point were customers, staff, or Bank property at risk.

‘This reckless and contemptuous behavior by individuals who cited Dr. Usoro’s Miden Systems as a key reason for the disruption is a direct affront to the rule of law,’ said Michael Boniface, Chief Security Officer of Sterling Bank. ‘The Bank has maintained full restraint despite repeated provocation and will once again escalate this violation to law enforcement authorities for investigation and prosecution.’

Sterling Bank had previously petitioned the Inspector-General of Police, presenting detailed evidence of Miden Systems’and Dr. Usoro’s sustained pattern of deceit, defiance of court orders, and attempts to mislead the public through false claims and politically motivated interference. These petitions followed years of defaults on a vessel lease facility originally granted and later restructured multiple times to accommodate the debtor’s inability to repay.

In 2021, the Federal High Court issued a Mareva injunction against Dr.Usoro and Miden Systems after repeated defaults, culminating in a consent judgment that confirmed the debtor’s liability. That judgment, which remains binding, was again reaffirmed in November 2024, when the court dismissed a subsequent application by Miden Systems seeking to overturn it, describing their actions as an abuse of process.

Despite these clear judicial pronouncements, Dr. Usoro and Miden Systems have continuously sought to circumvent lawful enforcement by orchestrating smear campaigns, false publications and petitions to government bodies. This recent disruption by pseudo-civil society fronts seemingly mirrors previous attempts to manipulate the National Assembly’s Committee on Public Petitions, a move the Federal High Court decisively condemned in its February 2025 ruling restraining the House of Representatives from further intimidating and harassing Sterling Bank. That order reaffirms the constitutional separation of powers; that neither the legislature nor any private entity can override or re-litigate matters already conclusively decided by competent courts.

‘The Bank has consistently relied on lawful processes and will continue to do so,’ Boniface added. ‘Integrity, discipline, and respect for judicial authority remain the pillars of our institution. We will continue to defend our hard earned reputation and protect our employees, customers and investors from individuals who weaponise falsehood to obstruct justice.’

Sterling Bank reiterates that it remains a trusted and responsible financial institution committed to transparency, ethical conduct, and sustainable business practices. The Bank will continue to cooperate with law enforcement agencies to ensure accountability and uphold the integrity of Nigeria’s financial system.

About Sterling Bank

Sterling Bank Limited is a full-service national commercial bank in Nigeria and a member of Sterling Financial Holdings Group. With a heritage of more than 60 years, the bank has evolved from Nigeria’s pre-eminent investment banking institution to a trusted provider of retail, commercial, and corporate banking services.

Sterling is a forward-thinking financial institution committed to transforming lives through innovative solutions, exceptional service, unwavering integrity, and a steadfast focus on its HEART strategy, which centers on Health, Education, Agriculture, Renewable Energy, and Transportation. As pioneers in digital banking and financial inclusion, Sterling continues to lead by example, showing how purpose-driven leadership can deliver transformative outcomes for individuals, businesses, and society at large.

Guided by a culture of innovation and a passion for excellence, Sterling Bank remains dedicated to redefining the banking experience for millions of customers across Nigeria.

Fidelity Bank Plc, has announced its readiness to begin the disbursement of funds under the National Credit Guarantee Company (NCGC) N5 billion Credit Intervention Scheme.

The initiative is designed to expand access to finance for Micro, Small and Medium Enterprises (MSMEs), as well as businesses owned by women and youths across Nigeria.

Nneka Onyeali-Ikpe, managing director and chief executive officer of Fidelity Bank Plc, made this known during the signing of a Memorandum of Understanding (MoU) between the bank and NCGC.

According to Onyeali-Ikpe, the partnership with NCGC represents a significant step in the bank’s ongoing efforts to enhance financial inclusion and stimulate economic growth through increased access to credit.

‘This guarantee will enable us to further expand financing opportunities for those who need it most, while strengthening our capacity to support businesses across key sectors of the Nigerian economy,’ she said.

The facility will cover critical sectors including food processing, secondary agriculture (such as fish and poultry processing), fashion, green energy, light manufacturing, the agricultural value chain (feed mills and equipment fabrication), export-oriented businesses, and education.

Onyeali -Ikpe highlighted that the bank has consistently supported diverse sectors through targeted initiatives such as the Green Energy Financing Programme for renewable energy entrepreneurs, and the Fidelity SME Hub for small businesses with a special arm – Creativerse, dedicated to the creative industry.

Others are the Fidelity Bank Education Support Scheme which provides affordable financing for educational infrastructure and technology upgrades. ‘With the backing of the NCGC credit guarantee, we can now extend financing to businesses that have traditionally been excluded from formal credit systems-without compromising our risk standards or operational efficiency,’ she said.

‘While we have supported MSMEs with short-term facilities in the past, this partnership allows us to provide long-term credit facilities that empower businesses to expand sustainably,’ she added.

Over the past five years, Fidelity Bank has disbursed over N500 billion in loans to MSMEs, empowering thousands of entrepreneurs and creating sustainable livelihoods.

Also speaking at the event, Bonaventure Okhaimo, managing director of NCGC, Mr. emphasized that the organisation was established to bridge the financing gap faced by MSMEs in Nigeria by mitigating lender risks through credit guarantees.

‘Although MSMEs are key contributors to Nigeria’s economic development, many of them struggle to secure funding from financial institutions due to perceived high risks,’ he said.

‘Through the credit guarantee scheme, NCGC shares this risk with banks, making it easier for MSMEs to access much-needed capital.’

Okhaimo added that NCGC and Fidelity Bank will also collaborate to provide financial literacy and business management training to MSME beneficiaries, ensuring they have the knowledge and skills to effectively manage their loans and achieve sustainable growth.

The Fidelity Bank-NCGC partnership reinforces both institutions shared commitment to fostering entrepreneurship, strengthening MSMEs, and driving inclusive economic development across Nigeria.

UPDC Real Estate Investment Trust (UPDC REIT) recorded an after-tax profit of N1.09 billion for the half year ended June 30, 2025, marginally below the N1.11 billion reported in the corresponding period of 2024.

The steady earnings came despite a decline in overall revenue to N1.54 billion from N1.59 billion the previous year, reflecting lower non-recurring gains recorded in 2024.

A closer look at the result shows that rental income, the trust’s main revenue driver, rose by 22 percent to N837.1 million, up from N683.5 million in the same period last year, supported by improved property occupancy and higher lease renewals. Meanwhile, interest income from bank deposits surged 25 percent to N633.9 million, reflecting higher yields on money market placements and short-term instruments. Interest income from assets measured at fair value also jumped over tenfold, reaching N63.1 million compared with N5.9 million in the same period of 2024, driven by returns from treasury bills and bonds.

On the cost side, operating expenses rose modestly to N389.16 million from N376.33 million, reflecting higher maintenance, insurance, and professional fees.

The trust also recorded an impairment charge on receivables of N48.85 million, a 52 percent decline from the N102.46 million reported in H1’2024, showing some moderation in credit losses. Notably, in H1 2025, the REIT did not record gains from the disposal of investment assets (such as real estate sales), unlike in H1 2024, when it had recognised N410 million from the sale of the UAC complex.

The trust maintained a strong balance sheet, with total assets rising to N33.77 billion from N33.43 billion at the end of December 2024. Investment properties accounted for N27.48 billion of this total, following improvements valued at N241.8 million during the period. Cash and cash equivalents also inched up to N5.82 billion, reflecting robust liquidity and efficient fund management.

UPDC REIT’s net asset value stood at N32.8 billion, compared to N32.53 billion as of December 2024, while the earnings per unit came in at N0.41, slightly down from N0.42 in the same period last year.

The Trust distributed N800.5 million to unitholders during the first half, demonstrating its continued commitment to steady investor returns amid a challenging real estate environment.

As of October 7, 2025, the company reported a share price of N7.3, with a market capitalisation of N2.66 billion.

The United Kingdom’s (UK) Migration Advisory Committee (MAC) has released a new report outlining 82 mid-skilled occupations eligible for temporary work visas under a fresh migration route designed to tackle ongoing labour shortages.

Among the occupations listed are bricklayers, fashion designers, HR officers, engineering technicians, welders, carpenters, civil engineers, photographers, translators, and logistics managers, all identified as essential to sustaining the UK’s growth ambitions.

The initiative forms part of Britain’s Temporary Shortage List which aims to attract foreign workers to fill roles vital to the country’s industrial strategy and long-term infrastructure plans. The new immigration pathway will grant visas lasting between three and five years for professionals across sectors such as engineering, logistics, health and safety, and the creative industries.

The government has described the Temporary Shortage List as a ‘narrow’ and targeted measure, offering time-limited visas for positions where domestic supply is currently insufficient. According to the MAC, the selected roles are considered crucial to delivering the government’s industrial priorities. The list centres on eight growth-focused sectors, including defence, life sciences, and creative industries, alongside critical infrastructure development such as road construction and hospital projects.

The scheme is expected to provide short-term relief for employers grappling with persistent skills shortages while the UK continues to invest in training and upskilling its domestic workforce.

Under the new scheme, eligible workers would be granted three to five-year visas but would not have the right to settle permanently, unless future government policy changes, the MAC confirmed.

Here is the full list of occupations and job code.

Job code | Occupation title

1,243 Managers in logistics

1,257| Hire services managers and proprietors

1,258| Directors in consultancy services

3,111| Laboratory technicians

3,112| Electrical and electronics technicians

3,113| Engineering technicians

3,114| Building and civil engineering technicians

3,115| Quality assurance technicians

3,116| Planning, process and production technicians

3,119| Science, engineering and production technicians not elsewhere classified (n.e.c.)

3,120| CAD, drawing and architectural technicians

3,131| IT operations technicians

3,132| IT user support technicians

3,133| Database administrators and web content technicians

3,213| Medical and Dental Technicians

3,411| Artists

3,412| Authors, writers and translators

3,413| Actors, entertainers and presenters

3,414| Dancers and choreographers

3,415| MusiciansCurbing net migration

The announcement follows a surge in net migration, which climbed to 906,000 in the year to June 2023.

The figure has intensified pressure on the government to strike a balance between attracting overseas workers and training more UK nationals to meet domestic labour demand, as it continues to contend with a sluggish economy and persistent worker shortages across several key industries.

Keir Starmer, UK’s prime minister adopted this firm stance on immigration amid growing public concern over illegal Channel crossings and with Labour slipping behind the Reform UK party in recent opinion polls.

Concerning the report, the MAC cautioned that any job added to the Temporary Shortage List must be supported by ‘a clear plan demonstrating the action being taken to maximise the use of domestic workers and reduce reliance on migrant labour.’

Applicants under the new route will be required to meet a minimum English language threshold, while employers must outline strategies to train and recruit UK-based talent.

A second phase of the review, scheduled for July 2026, will assess which occupations should be included on the final list.

Similar targeted visa systems are already in place in countries such as Canada and Australia, where specialised schemes help plug workforce gaps in areas like healthcare, engineering, and skilled trades.

In today’s digital world, data is the petrol and diesel that powers Artificial Intelligence (AI). Every innovative system, from chatbots that answer customer queries to fraud algorithms that scan millions of transactions, is powered by data. However, just as bad fuel can damage an engine, poor or unethical data use can erode trust, damage reputations, and even destroy entire businesses.

Across Nigeria, organisations are rushing to plug AI into their operations in banking, insurance, education, healthcare, and even government. Yet, many are discovering that adopting AI isn’t just about technology; it’s about responsibility. The brighter your system, the higher your duty to use data ethically.

Think of data as the oxygen AI breathes. There’s structured data, with neat rows of figures, such as account balances or payroll. Then, semi-structured data, such as emails, forms, or system logs. And the messy but powerful unstructured data: videos, tweets, voice notes, and CCTV feeds. AI models feed on all of these to learn patterns, make predictions, and personalise experiences. However, if the data is incomplete, biased, or collected without consent, the results can be unfair, inaccurate, or even unlawful. In other words, garbage in, chaos out.

That’s why countries, including Nigeria, are setting up guardrails. AI can only thrive when data is handled with care, consent, and conscience.

Innovation must be ethical

Ethics in AI isn’t about slowing down innovation. It’s about building trust in the system. When algorithms decide who gets a loan, which citizen gets flagged for fraud, or which student qualifies for a grant, those decisions must be explainable, fair, and lawful.

Informed executives now talk about ‘ethics by design’, building responsibility into every layer of AI, from how data is collected to how results are interpreted. Because in the age of automation, a single unethical decision can go viral faster than any product launch.

‘That’s why countries, including Nigeria, are setting up guardrails. AI can only thrive when data is handled with care, consent, and conscience.’

NDPC: From barking to biting

Nigeria has stepped up. The Nigeria Data Protection Act (NDPA) and the Nigeria Data Protection Commission (NDPC) now form the country’s backbone for data rights and responsible AI. This is no longer a theoretical conversation; it’s active law enforcement.

In recent months, the NDPC has handed down fines ranging from ?5 million to over ?50 million to organisations that mishandled customer data, failed to secure consent, or ignored basic compliance steps.

And now, with the launch of the Global Alliance for Innovative Development (GAID), a new government-backed initiative, Nigeria is signalling its readiness to align AI governance with global best practices while nurturing homegrown innovation. The message is clear: AI must serve the people, not exploit them.

Corporate governance meets AI governanceUsually, I share with executives that AI governance is not a ‘tech department’ issue; it’s a boardroom conversation. Data misuse can trigger regulatory action, shareholder panic, and customer distrust.

Progressive, innovative companies are already moving ahead by:

Appointing Data Protection Officers (DPOs)

Set up AI Governance Committee

Running Data Protection Impact Assessments (DPIAs) before launching products

Training staff to recognise ethical red flags

Regularly audit algorithms to check for bias or unfair outcomes.

In short, ethics isn’t an add-on; it’s now a business continuity strategy. Bottom line

So how can executives avoid being caught napping? Start by seeing compliance not as punishment but as insurance, and partner with experienced AI governance experts. Run AI ethics audits. Regularly train your teams. And most importantly, treat customer data with the same respect you’d expect for your own.

Consumers are watching. Regulators are watching. Investors too. The brands that will thrive are those that build trust into their algorithms and fairness into their code.

The future of AI success in Nigeria belongs to those who match innovation with integrity. Ultimately, the smartest move in AI is to play by the rules.

Dotun Adeoye is a seasoned technology strategist and AI innovation leader with over 30 years of global experience across Europe, North America, Asia, and Africa. He is the co-founder of AI in Nigeria.