Universities Urged to Embrace Smart Technology in Fight Against Financial Misconduct

Nigeria’s leading anti-corruption body has called on tertiary institutions to rethink how they manage finances and administration, encouraging a shift toward intelligent digital systems to reduce fraud risks.

Addressing members of university governing councils, the head of the Economic and Financial Crimes Commission, Ola Olukoyede, said traditional oversight methods are no longer sufficient to tackle increasingly sophisticated financial crimes. He highlighted artificial intelligence as a valuable tool for improving oversight, noting that it can quickly identify irregular spending patterns and suspicious transactions.

He advised institutions to adopt automated platforms that promote openness in contract awards, budgeting, and financial reporting, while also recommending the creation of internal monitoring teams dedicated to digital compliance and risk management.

Olukoyede emphasized that while technology can strengthen accountability, it cannot replace human responsibility. He cautioned that without discipline and transparency from those in leadership positions, even advanced systems may fail to deliver results.

He further encouraged universities to build stronger ties with regulatory agencies, stressing that shared knowledge, training initiatives, and coordinated policies would play a crucial role in creating more transparent and accountable education systems nationwide.