Finance Dept holds maiden international conference on AI and sustainability
By Bashir Dawodu
The Department of Finance, University of Ilorin, has held its 1st maiden international conference, which brought together academics, students, researchers and finance experts from various institutions to examine the role of Artificial Intelligence (AI) in transforming the financial sector and promoting sustainability.
The conference, themed “Artificial Intelligence, Finance, and the Path to Sustainability in Emerging and Developing Countries,” was held last Monday, (November 2, 2026), at the University Auditorium.
Speaking on the theme, the Guest Speaker and Minister of Finance and Coordinating Minister of the Economy, Prof. Taiwo Oyedele, who was represented by the Director of Information and Communication Technology (ICT) of the Ministry, Dr Joseph Babafunso, highlighted the opportunities AI presents for the financial sector.
He identified financial inclusion, operational efficiency, transparency, improved risk management and resilience as some of the major benefits of integrating AI into financial services.
He, however, cautioned that the adoption of AI also comes with significant challenges, including data privacy breaches, algorithmic bias and national security vulnerabilities.
Prof. Oyedele stressed the need for Nigeria to establish a comprehensive legal framework to regulate the deployment of AI, despite its growing adoption across critical sectors such as banking, agriculture and healthcare.
“Nigeria still lacks a comprehensive legal framework governing AI deployment, despite rapid adoption across banking, agriculture, healthcare and other sectors. This is a gap we must close, urgently and thoughtfully,” he said.
In his keynote address, the Chief Executive Officer of CRC Credit Bureau Limited,Dr Ahmed Babatunde Popoola, described Artificial Intelligence as a transformative force capable of repositioning finance from a largely transactional function to an intelligent infrastructure for economic development and sustainability.
Dr Popoola urged researchers, academics and policymakers to ensure that AI-driven financial innovations promote societal protection and human empowerment.
He also called for context-sensitive regulations for AI in finance and encouraged the development of AI tools tailored to the peculiarities of emerging and developing economies, rather than relying solely on global principles.
Earlier, the Vice Chancellor of the University of Ilorin, Prof. Wahab Olasupo Egbewole, SAN, called on participants to embrace Artificial Intelligence, noting that the technology had come to stay and was increasingly becoming essential in accomplishing tasks beyond conventional human capabilities.
The Vice Chancellor, who was represented by the Deputy Vice Chancellor (Academic), Prof. Moji Taibat Bakare-Odunola, commended the Department for organising the Conference, describing it as an important platform for deepening understanding of the relevance of AI to the financial sector.
He urged participants to translate the knowledge and insights gained at the Conference into practical applications in their respective fields.
Similarly, the Dean of the Faculty of Management Sciences, Prof. T.O. Olaniyan, emphasised the need for Nigeria to embrace the AI revolution to remain competitive in the global community.
He encouraged Nigerians to adopt the technology responsibly,stressing the importance of understanding both its benefits and potential drawbacks.
In her welcome address, the Head of the Department, Dr Bilqees A. Abdulmumin, expressed appreciation to participants for honouring the Department’s invitation.
She described the Conference as timely and relevant, particularly in view of the growing influence of Artificial Intelligence on financial systems and economic development.
Dr Abdulmumin also commended the University management on its continued support towards the growth and development of the Department.
Highlights of the Conference included paper presentations, presentation of awards and a drama performance by students of the Department of Performing and Film Arts.
