Nigerian Banks Urged to Combat AI-Driven Cyber Threats

Professor Adewale Obadare, the Founder of Digital Encode and the first practicing Professor of Cyber Security in Nigeria, stated that Nigerian banks and fintechs are under significant threat from AI-driven cyberattacks. He emphasized the need for these financial institutions to adopt proactive measures to counter such attacks.

Digital Encode has launched DEPAS AI, a fully autonomous enterprise penetration testing platform, to help organizations transition from periodic assessments to continuous cyber resilience. The IBM 2026 Cost of a Data Breach Report indicates that AI-enabled breaches account for 25% of all malicious incidents, with an average breach cost of $6.04 million.

DEPAS AI employs specialized AI security agents that operate across an organization’s attack surface, ensuring comprehensive coverage and real-time analysis. Obadare noted that DEPAS AI combines artificial intelligence with human intelligence to enhance defense capabilities, providing 24/7 autonomous testing across various applications and systems.