Onome Amuge
Nigeria’s evolving digital economy is prompting fintech companies, regulators and financial institutions to rethink data privacy frameworks, particularly as AI-powered financial services gain ground. Optasia, a global AI-driven fintech platform, used the National Privacy Week 2026 platform to emphasise its privacy-by-design approach and dedication to responsible AI-driven financial services.
The event, hosted at the Transcorp Centre, convened regulators, banks, fintech operators and technology leaders under the theme “Privacy in the Era of Emerging Technologies: Trust, Ethics & Innovation.” It also aligned with ongoing implementation of the Nigeria Data Protection Act (NDPA), legislation designed to strengthen safeguards for personal data and reinforce consumer trust in digital services.
Industry observers note that the stakes are rising quickly. Nigeria’s fintech sector has expanded over the past decade, driven by mobile connectivity, financial inclusion initiatives and increased digital payments adoption. Yet the rise in AI-powered financial products, from credit scoring to digital lending and personalised financial services, has intensified scrutiny of how consumer data is handled.
Vincent Olatunji, national commissioner and chief executive of the Nigeria Data Protection Commission (NDPC), emphasised that privacy is not simply a regulatory requirement but an economic enabler. According to him, stronger data protection frameworks help unlock digital growth by ensuring that consumers trust the systems handling their personal and financial information.
For fintech firms such as Optasia, operating across multiple regulated markets, embedding privacy into technology architecture has become both a compliance necessity and a competitive differentiator. The company, which delivers AI-powered financial services through licensed financial institutions and regulated distribution partners, has focused on what it describes as a “privacy-by-design” model. This approach integrates data protection, accountability and governance directly into service development rather than treating privacy as a secondary compliance exercise.
As AI adoption accelerates, fintech companies increasingly rely on large data sets to improve risk modelling, extend credit access and enhance customer experience. However, this reliance also raises questions about ethical data use, consumer consent and cybersecurity resilience.
Uchenna Agbo, Optasia’s chief commercial officer, said safeguarding data should be treated with the same seriousness as safeguarding financial capital, particularly in fast-growing digital markets like Nigeria. She argued that responsible data practices are essential to maintaining long-term confidence across the financial ecosystem.
Uchenna Agbo, chief commercial officer at Optasia
Optasia’s operational framework includes adherence to internationally recognised standards such as SOC 2 Type II certification, which assesses security, confidentiality and privacy controls. Analysts suggest such credentials are becoming increasingly important for fintech firms seeking partnerships with banks, institutional investors and multinational technology providers.
Collaboration also featured prominently during the privacy week discussions. Optasia executives participated in panel sessions alongside representatives from banks and global technology firms, examining how emerging technologies can deliver financial inclusion without undermining privacy rights. These cross-sector dialogues reflect a growing recognition that data governance challenges cannot be solved by any single stakeholder group.
