United Bank for Africa (UBA) Group Managing Director and Chief Executive Officer, Oliver Alawuba, cautioned banks against embracing artificial intelligence without first establishing a clear understanding of the risks, warning that innovation without proper governance could expose financial institutions to significant operational and reputational threats. Speaking at the 64th Quarterly General Meeting of the Association of Chief Audit Executives of Banks in Nigeria (ACAEBIN), Alawuba said the rapid integration of AI into banking is transforming decision-making processes, and urged banks to equip internal audit teams with technical expertise including knowledge of machine learning, cybersecurity, data governance, cloud infrastructure and model risk. He maintained that internal auditors must preserve their independence despite pressure to accelerate digital transformation. ACAEBIN Chairperson Aina Amah identified cybercrime as one of the most pressing challenges confronting Nigerian banks, and disclosed that several banks have introduced enterprise-wide fraud monitoring systems and dedicated surveillance teams capable of detecting suspicious transactions in real time.