Olukoyede Tasks Universities on Use of Artificial Intelligence in Ethical and Financial Management

The Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Mr. Ola Olukoyede, has called on universities across the country to urgently integrate Artificial Intelligence, AI, into their ethical and financial management systems as a transformative tool to combat corruption, enhance accountability and restore public trust.

Olukoyede made the call in Kano on Tuesday April 28, 2026 in a Keynote Address at the opening ceremony of the 8th Biennial Conference of the Committee of Pro-Chancellors of State Universities in Nigeria, COPSUN.

Describing AI as a necessary defence,” the EFCC boss warned that the Nigerian university system cannot afford to be left behind in the global shift toward technology-driven governance.

The EFCC Chairman noted that Nigerian universities manage multi-billion-naira budgets, tuition fees, TETFund interventions, and research grants, yet accountability issues persist.

“The EFCC has investigated cases involving inflated contracts, ghost workers, and diverted students’ fees in tertiary institutions across the federation. Each case represented not only a loss of public funds but also a betrayal of the trust that Nigerian parents, students, and taxpayers have placed in the university system”

“A university that lacks financial accountability cannot credibly train future accountants and auditors, and one that tolerates fraud cannot produce the ethical professionals our economy needs. The university’s integrity is thus a matter of national security, and AI offers transformative tools to defend it”, he said

The anti graft czar outlined specific areas where AI can strengthen ethical and financial management. These include, fraud detection, automated auditing, payroll integrity, procurement oversight, and academic integrity.

He cited notable operations where AI proved decisive at the EFCC such as “Operation Eagle Flush (December 2024) where the EFCC arrested 792 suspects including 193 foreign nationals (114 Chinese, 40 Filipinos, two Kazakhs, one Pakistani, and one Indonesian) in a seven-storey building in Victoria Island, Lagos. The syndicate operated cryptocurrency investment fraud and romance scams targeting victims in the United States, Canada, Mexico, and Europe.”

Olukoyede urged university governing councils to act decisively by adapting AI technologies to day-to-day running of their systems

“I will recommend that you establish an AI and Digital Governance Committee within each Governing Council to drive responsible AI adoption. Create a Digital Integrity Strategy for finance, academic, and data protection within your institutions. Invest in digital infrastructure, broadband, cybersecurity, and cloud systems”, he said.

He also called for partnership with the EFCC and other agencies for joint training and intelligence exchange, and for adoption of an AI Code of Ethics to safeguard privacy, prevent bias, and protect academic freedom.

Although Olukoyede strongly pointed to the technological leeway AI tools are capable of offering universities, he cautioned that technology alone is not enough.

“No matter how sophisticated the technology might be, its effectiveness ultimately depends on the integrity of the human beings who will utilise the tools. AI will therefore not work magic for the ivory towers if the integrity deficit that is palpable among the workforce is not addressed”, he said.

He also warned of potential downsides, including over‑reliance eroding professional judgement, loss of institutional autonomy, and cybersecurity risks from weak data stewardship.

“The fight against corruption is a national project that depends on the integrity of every institution, especially our universities. The EFCC is ready to collaborate with you in training and intelligence sharing in the unwavering belief that integrity will lead Nigeria to greatness and transparency. This is possible. It is achievable”, he said.