At the BusinessDay Fintech Summit 2026 held in Lagos, the conversation around financial innovation took a decisive turn away from theory and into practical, scalable impact. Representing the Stakeholders in the Blockchain Technology Association of Nigeria, President Mela Claude Ake delivered a grounded yet forward-looking perspective on how blockchain and artificial intelligence are converging to redefine financial services in Nigeria.
Decentralisation Meets Intelligence: Finding the Intersection
Speaking on the panel themed “Intelligent Finance: How AI, Data and Automation Are Rewriting Financial Services,” Ake addressed a critical tension: blockchain’s decentralised trust versus AI’s centralised intelligence. His position was clear, true innovation lies not in choosing one over the other, but in integrating both. Blockchain provides the infrastructure for transparent, tamper-proof transactions, while AI enhances decision-making, fraud detection, and operational efficiency. Together, they form the foundation of what SIBAN describes as programmable trust.
On regulation, Ake acknowledged the caution within Nigeria’s financial ecosystem but reframed it as an opportunity for structured growth. He highlighted practical, low-risk use cases regulators can confidently support today, digital identity systems, supply chain tracking, and cross-border payment solutions. These applications, already gaining traction, demonstrate that blockchain is no longer speculative; it is operational.
Tokenization and smart contracts, often seen as abstract concepts, were brought into sharp local context. Ake pointed to real opportunities in asset tokenisation, real estate, commodities, and even creative assets unlocking liquidity in traditionally illiquid markets. Smart contracts, he noted, are already streamlining agreements in lending and trade finance, reducing human error and increasing speed.
The Future of Intermediaries: Adapting to Programmable Trust
Perhaps most important among the many topics discussed was the future of financial intermediaries. With trust being written into code, it is only natural that the function of banks and payment facilitators would have to change. But while these institutions would certainly not be made obsolete, Ake presented a view of them as entities that needed to adapt and utilize the emerging technologies.
The participation of SIBAN in the conference highlights how the president plans to bridge innovation with regulation. By pushing forward for education, advocacy, and even industry standards, SiBAN is helping shape the future of fintech in Nigeria.
Amidst the growing influence of Blockchain, SIBAN remains steadfast in grounding discussions in reality, thereby ensuring that innovations lead to secure and scalable financial systems in Nigeria.
In light of the active participation of the Stakeholders in the Blockchain Technology Association of Nigeria in discussions about these issues, it is evident that the community is working hard on important matters. To become a member of SiBAN, send us an email [email protected], or you can also join our SiBAN Telegram community!
