As Nigeria strengthens enforcement of its data protection framework, global fintech firm Optasia has called for the adoption of privacy-by-design principles in the development and deployment of artificial intelligence (AI) systems across the country’s financial services sector.
The call comes amid growing regulatory scrutiny of how financial technology companies collect, process and store consumer data, particularly as AI-driven credit scoring, lending and payment solutions become more widespread. Nigeria’s data protection regime, anchored by the Nigeria Data Protection Act (NDPA), places stricter obligations on organisations handling personal data and introduces tougher compliance and accountability requirements.
Speaking at a recent industry forum on data protection and emerging technologies, Optasia executives stressed that embedding privacy considerations at the earliest stages of AI system design is essential to building trust, ensuring regulatory compliance, and safeguarding consumers.
According to the company, privacy-by-design moves data protection beyond a compliance checkbox and makes it a core component of product architecture. This includes practices such as data minimisation, purpose limitation, robust consent mechanisms and the use of anonymisation or encryption techniques in AI models.
“As AI becomes central to financial inclusion and digital lending, responsible data use must be treated as a foundational principle, not an afterthought,” Optasia said in a statement. “Privacy-by-design helps organisations innovate responsibly while respecting user rights and meeting regulatory expectations.”
Nigeria’s fintech ecosystem is one of the fastest-growing in Africa, with AI increasingly used to assess creditworthiness, detect fraud and personalise financial products. However, regulators and privacy advocates have raised concerns about opaque algorithms, excessive data collection and the potential misuse of sensitive personal information.
The Nigeria Data Protection Commission (NDPC) has signalled its intention to increase oversight, enforcement actions and public awareness as AI adoption accelerates. Industry players are therefore under pressure to demonstrate not only compliance with the law, but also ethical data governance practices.
Optasia said it is aligning its internal policies, technology frameworks and partnerships to reflect Nigeria’s evolving regulatory environment. The company added that collaboration between regulators, technology providers and financial institutions will be critical to balancing innovation with consumer protection.
Analysts note that firms that proactively integrate privacy-by-design into AI systems are likely to gain a competitive advantage as regulatory expectations rise across Africa. With data protection increasingly shaping investor confidence and consumer trust, responsible AI practices are becoming a strategic priority rather than a regulatory burden.
As Nigeria positions itself as a regional digital finance hub, the debate around AI, data protection, and privacy-by-design is expected to intensify, with industry leaders such as Optasia urging early and sustained action.
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