Prembly brings together Nigeria’s financial ecosystem to advance industry collaboration against financial fraud
Prembly, in partnership with MTN, has concluded the inaugural Fraud Intelligence Summit, bringing together executives and senior leaders across Nigeria’s financial ecosystem to strengthen industry-wide collaboration against increasingly sophisticated fraud.
Prembly, in partnership with MTN, has concluded the inaugural Fraud Intelligence Summit, bringing together executives and senior leaders across Nigeria’s financial ecosystem to strengthen industry-wide collaboration against increasingly sophisticated fraud.
To address this challenge, Prembly hosted the fraud intelligence summit, held under the theme “Collaboration Over Competition: Building an Anti-Fraud Ecosystem”, the summit convened regulators, financial institutions, fintechs, telecommunications providers, and fraud prevention experts to address one of the most pressing challenges facing Africa’s digital economy: how to combat increasingly coordinated and cross-border financial crime through collective action.
The event featured participation 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), Heirs Technologies, Access Bank, the Independent Corrupt Practices and Other Related Offences Commission (ICPC), Fidelity Bank, Moniepoint, MoMo, Wema Bank, and others, representing a holistic dialogue among regulators, law enforcement agencies, banks, enterprises, and fintechs.
Delivering the keynote address, Ms Omoyemen Jide-Samuel, Director, Information Technology, Central Bank of Nigeria, representing DG Operations of CBN, emphasised that fraud has become a shared challenge requiring a coordinated response across institutions. “Fraud does not respect institutional or national boundaries. As these threats continue to evolve, collaboration, information sharing, and stronger alignment between financial institutions, regulators, and security agencies will be essential to building a more resilient anti-fraud ecosystem,” she said.
Across panel discussions, participants agreed that fraud has evolved beyond the ability of any single institution to address independently. Discussions focused on accelerating intelligence sharing, strengthening governance around responsible data exchange, leveraging AI to detect emerging threats, and building the cross-sector partnerships required to protect Nigeria’s rapidly expanding digital economy.
A recurring recommendation throughout the summit was the establishment of a real-time fraud intelligence network that enables financial institutions, regulators, telecom operators, and ecosystem partners to detect, share, and respond to fraud collaboratively, thereby reducing response times from hours to seconds while strengthening trust across the financial system.
“Significant efforts are already in place to combat financial fraud in Nigeria, but they remain largely fragmented. To stay ahead of increasingly sophisticated threats, we need to combine the speed and innovation of fintechs, the deep expertise and scale of banks, and the oversight and best practices of regulators,” said Lanre Ogungbe, CEO of Prembly.
The summit marks the beginning of Prembly’s annual platform for advancing industry collaboration against financial crime. Collective intelligence is the single most impactful tool for developing best practices that help financial institutions stay ahead of increasingly sophisticated fraud threats and strengthen resilience across Nigeria’s financial ecosystem.
