The Central Bank of Nigeria has warned banks, fintechs and other financial institutions about growing cybersecurity dangers linked to third-party technology risks, according to Tribune Online. The caution highlights concern over external digital services used by regulated firms and the need to manage vulnerabilities that could affect operations, data and customers within Nigeria's financial sector.

Bankers in Nigeria have expressed concerns that traditional audit and governance frameworks are becoming insufficient due to the rapid advancements in artificial intelligence, which is transforming banking operations, risk management, and fraud detection. This warning was made during the 64th Quarterly General Meeting of the Association of Chief Audit Executives of Banks in Nigeria (ACAEBIN) held in Lagos.

The federal government of Nigeria has issued a directive to banks in response to the identification of individuals and companies suspected of financing terrorism. This measure aims to enhance the monitoring and regulation of financial transactions related to these suspects.

A new fintech company called Open Space, focused on artificial intelligence and ethical or non-interest finance, has been launched in Nigeria, according to the Daily Post. The firm was unveiled in Abuja on Tuesday as part of efforts to deepen financial inclusion and make financial services more accessible to Nigerians and businesses. The company's chief executive officer spoke at the launch event, though further details of his remarks were not provided.

The Central Bank of Nigeria (CBN) has made terrorism financing supervision a current supervisory priority as part of efforts to protect the country's financial system from abuse by illicit actors. According to a statement signed by Hakama Sidi-Alli, Acting Director of Corporate Communications and Investor Relations, the heightened oversight will focus on strengthening monitoring within the financial sector. The move underscores the regulator's commitment to combating illicit financial flows in Nigeria.

The Federal Government of Nigeria has expressed its support for recent US sanctions imposed on Nigerian Bureau De Change (BDC) operators accused of financing terrorism. The government stated its commitment to collaborating with both domestic stakeholders and international partners to enhance national security.