Story perspectives

PwC Nigeria: AI Key to Combatting $12.5B Telecom Fraud

3/20/2026

Summary

Story summary

PwC Nigeria released a report urging telecom operators to adopt artificial intelligence to counter fraud.
The report notes AI is both a threat and a protective tool.
Nigeria lost about $12.5 billion to telecom-related financial crimes from 2019 to 2023.
Adeola Adekole of PwC urges investment in advanced anti-fraud tools and regular audits.
The report calls for proactive fraud management and collaboration with regulators.

History

Historical Context

From 2019 to 2023, Nigeria lost approximately $12.5 billion to telecom-related financial crimes, highlighting a persistent corruption issue that has plagued the nation for decades. The rise of technology, including artificial intelligence, presents both challenges and solutions in combating fraud, reflecting a global trend. Without effective regulatory measures, these financial losses threaten Nigeria's economic stability, echoing historical patterns of corruption since independence.

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Story summary

PwC Nigeria released a report urging telecom operators to adopt artificial intelligence to counter fraud.
The report notes AI is both a threat and a protective tool.
Nigeria lost about $12.5 billion to telecom-related financial crimes from 2019 to 2023.
Adeola Adekole of PwC urges investment in advanced anti-fraud tools and regular audits.
The report calls for proactive fraud management and collaboration with regulators.

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