Prominent Nigerian academics have called for universities to urgently adopt Artificial Intelligence while establishing strong guardrails against its irresponsible use, warning that the country risks falling behind in global development. The position was presented on Tuesday at the opening ceremony of the 8th Lagos State University (LASU) Research and Innovation Fair, themed around accelerating national development through AI-driven innovation, according to Tribune Online.

The Institute of Chartered Accountants of Nigeria (ICAN) has stated that accountants will integrate artificial intelligence (AI) into their practices while maintaining essential ethical standards. ICAN's 62nd president, Hajia Queensley Sofuratu Segoshime, emphasized that while AI can improve efficiency, it cannot substitute for integrity, transparency, and accountability in the profession.

The Vice-Chancellor of the University of Lagos has urged universities to adapt to the use of artificial intelligence rather than attempt to prevent it. She cautioned that excessive dependence on AI could undermine the fundamental purpose of education by allowing students to complete academic tasks without acquiring the required knowledge. Her remarks highlight the growing debate over how higher education institutions should respond to the increasing use of AI tools by students.

A doctoral thesis from the University of Cape Town argues that South Africa should not rely on a light-touch, voluntary approach to artificial intelligence policy. According to TechCentral, the research contends that AI regulation needs to be enforceable through binding rules rather than depending on voluntary principles, making the case for a stronger regulatory framework for the technology in the country.

According to CampusBee, students in Ugandan universities are increasingly utilizing AI tools for various tasks such as drafting essays, summarizing lecture notes, writing job applications, and debugging code. Additionally, employees in mid-sized companies in Kampala are reportedly using AI applications like ChatGPT to enhance productivity significantly. The discussion raises questions about the government's readiness to adapt to the rapid advancements in AI technology.

Financial sector stakeholders in Nigeria say Islamic and ethical finance could provide an alternative funding channel for the country’s small and medium-scale enterprises, according to Tribune Online. The report frames non-interest, asset-backed and risk-sharing models as possible options for businesses that struggle to access conventional bank credit, while noting that the proposal is being discussed by experts rather than adopted as policy. No specific funding amounts, institutions or timelines are provided.