Nigeria’s financial regulators, through the Financial Services Regulation Coordinating Committee (FSRCC), raised concerns over illegal financial operators and rising cybersecurity risks, warning these activities could undermine stability. At the 80th meeting of the Committee, which includes the Central Bank of Nigeria (CBN), the Nigeria Deposit Insurance Corporation (NDIC), and others, regulators announced measures including the deployment of Artificial Intelligence-powered surveillance tools and tighter oversight of fintechs and crypto assets. A communiqué signed by secretary Dr. Rita Sike acknowledged emerging threats from unlicensed operators and cybercrime required urgent action. The Committee resolved to intensify enforcement actions and deepen collaboration for monitoring and early detection. Regulators will deploy predictive analytics and AI tools to identify illegal activities before they escalate. The FSRCC also approved broader use of USSD channels for verifying licensed institutions and intensified public sensitisation campaigns. Despite concerns, the Committee noted the financial sector’s strong performance, with market capitalisation exceeding N161 trillion. The FSRCC noted the successful completion of the banking sector recapitalisation exercise and ongoing reforms in insurance, pension, and capital markets. Regulators welcomed efforts to sustain payments to depositors affected by the collapse of Heritage Bank, Union Savings & Loans Ltd. and Aso Savings & Loans Ltd.