The Fintech Report 2025 was published on Monday, February 2 2026 as part of the Central Bank's Policy Insight series. The document states that around 87.5% of Nigerian fintechs use artificial intelligence (AI) for fraud detection.

The report published by the Central Bank of Nigeria is based on a national survey conducted among actors in the sector, a workshop behind closed doors organized in June 2025 and a round table held in October. According to the Report, 62.5% of fintechs surveyed use powered “chatbots” by AI for customer relations, while 37.5% use it for the” credit scoring” and risk modeling. The same proportion applies AI in customer relationship entry and customer knowledge processes (KYC). 12.5% of businesses surveyed say they do not use AI at this time stadium.

According to the document, “AI is widely adopted in Nigerian fintech, mainly for risk management and operational efficiency. Fraud is a major problem for sector”.

In Nigeria, financial institutions have dealt nearly 11 billion instant payment transactions in 2024, or more double the volume recorded in 2022, which raises the market among the most active real-time payment markets in the world.

However, the Central Bank warns that this accelerated digitization is expanding the risk surface of financial system. Fraud, insufficient internal controls in some fast-growing businesses and cross-border financial crime concerns remain, despite the strengthening of control mechanisms against money laundering and the country's recent exit from the grey list of Mso-bidi-language:ar-sa"> Action group financial (FATF)