Wema Bank Advocates for Digital Trust in Banking Sector

Wema Bank Plc has called for enhanced collaboration within Nigeria’s financial sector to protect digital trust as technology transforms banking. Moruf Oseni, the managing director and CEO of Wema Bank, represented by Tunde Mabawonku, executive director of Finance and Digital, made this statement at the 65th Quarterly General Meeting of the Association of Chief Audit Executives of Banks in Nigeria (ACAEBIN).

The meeting, themed “Auditing the Future: Governing AI, Cyber Risks and Digital Trust in an Era of Intelligent Banking,” gathered audit executives, regulators, and law enforcement to discuss the risks and opportunities of rapid technological change. Oseni warned that while technology is reshaping banking, it also introduces vulnerabilities such as AI-enabled fraud and cyberattacks.

He stressed the need for responsible innovation and robust cybersecurity measures, urging that maintaining digital trust should be a priority across all levels of the organization. Oseni also noted the evolving role of internal audit towards a more proactive approach in managing these risks.