The University of Ilorin’s Department of Finance has held its maiden international conference, bringing together academics, researchers, students and finance experts to examine how Artificial Intelligence (AI) can transform the financial sector and promote sustainability.
The conference, themed “Artificial Intelligence, Finance, and the Path to Sustainability in Emerging and Developing Countries,” took place on November 2, 2026, at the University Auditorium.
The Guest Speaker, Minister of Finance and Coordinating Minister of the Economy, Prof. Taiwo Oyedele, represented by the ministry’s Director of Information and Communication Technology, Dr Joseph Babafunso, highlighted the benefits of integrating AI into financial services.
He identified financial inclusion, operational efficiency, transparency, improved risk management and greater resilience as some of the opportunities AI offers. However, he warned that its adoption also raises concerns about data privacy breaches, algorithmic bias and national security vulnerabilities.
Oyedele stressed the need for Nigeria to establish a comprehensive legal framework to regulate AI deployment, noting that the technology was already gaining ground in critical sectors, including banking, agriculture and healthcare.
In his keynote address, the Chief Executive Officer of CRC Credit Bureau Limited, Dr Ahmed Babatunde Popoola, described AI as a transformative technology capable of moving finance beyond routine transactions to become an intelligent tool for economic development and sustainability.
He urged researchers, academics and policymakers to ensure that AI-driven financial innovations promote human empowerment and societal protection. He also advocated context-specific regulations and the development of AI solutions suited to the realities of emerging and developing economies.
Earlier, the Vice Chancellor of the University, Prof. Wahab Olasupo Egbewole, represented by the Deputy Vice Chancellor (Academic), Prof. Moji Taibat Bakare-Odunola, urged participants to embrace AI, describing it as an increasingly essential technology. He commended the Department for organising the conference and encouraged participants to apply the knowledge gained in their respective fields.
The Dean of the Faculty of Management Sciences, Prof. T.O. Olaniyan, also called on Nigeria to embrace the AI revolution to remain globally competitive, while emphasising the need for responsible adoption and a clear understanding of its benefits and risks.
In her welcome address, the Head of the Department, Dr Bilqees A. Abdulmumin, described the conference as timely, given AI’s growing influence on financial systems and economic development. She also appreciated the university management for its continued support of the department.
The conference featured research paper presentations, an awards ceremony and a drama performance by students of the Department of Performing and Film Arts.
