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Treasurers urge firms to embrace AI, automation
Industry<a href="https://myappsplus.com/nyt-strands-hints-and-answers-for-friday-november-6-game-978/” title=”NYT Strands hints and answers for Friday, November 6 (game #978)”>November 6, 2026 12:25 am
The Association of Corporate Treasurers of Nigeria has urged businesses to deploy artificial intelligence, automation and predictive technologies to strengthen treasury operations and anticipate financial risks rather than merely respond to market developments.
The association said treasury teams must move beyond traditional responsibilities such as cash management, payment processing, funding and risk management to become strategic partners in corporate decision-making.
The President and Chairman of Council, ACTN, Adeyinka Ogunnubi, stated this during the unveiling of the Treasury360 Conference, Exhibition and Corporate Treasury Awards 2026 on October 30 in Lagos.
Ogunnubi said the growing complexity of the business environment had made it necessary for treasury professionals to embrace innovation and provide forward-looking insights to support corporate resilience and growth.
Unveiling the theme of the 2026 conference, ‘The Intelligent Treasury: Evolving from Reactive to Proactive Foresight Through AI, Automation and Predictive Decision-Making’, Ogunnubi said organisations increasingly needed treasury teams that could identify emerging risks, assess different scenarios and guide business decisions.
“An intelligent treasury brings together reliable information, appropriate technology and professional judgement to help an organisation prepare for what comes next. Artificial intelligence can help teams examine information and identify patterns. Automation can take away repetitive manual work. Predictive tools can help finance teams assess possible outcomes and prepare their responses,” he said.
He cautioned businesses against adopting technology without adequate safeguards, stressing the need for accurate data, effective internal controls, cybersecurity, skilled personnel and clear accountability.
He said, “A system can assist a decision; leadership remains responsible for understanding and taking that decision.”
The ACTN president said treasury management had become increasingly important to corporate strategy as businesses grappled with changing operating costs, financing conditions, market risks and rapid technological developments.
He explained that improved cash visibility, better management of foreign exchange and funding exposures, and secure payment systems would enable businesses to make informed investment decisions, protect liquidity and identify growth opportunities.
“At a time when businesses must navigate shifting costs, financing conditions, market risks and rapid technological change, treasury belongs at the heart of the strategic conversation,” Ogunnubi said.
He also linked effective treasury forecasting to the need for transparent and efficient financial markets, saying businesses could not make reliable projections without credible market information and predictable pricing.
He said the association had consistently advocated market efficiency, transparency and genuine price discovery in Nigeria’s financial markets, adding that these were essential to improving liquidity, reducing volatility and helping businesses plan with greater confidence.
Ogunnubi said the ACTN welcomed the Central Bank of Nigeria’s foreign exchange market reforms, including market unification, the willing-buyer, willing-seller framework, the introduction of the Electronic Foreign Exchange Matching System and the clearance of foreign exchange backlogs.
He also highlighted the introduction of the Nigerian Overnight Financing Rate, describing it as an important development in establishing a credible benchmark for financial transactions.
According to him, the benchmark, introduced by the CBN in collaboration with the Financial Markets Dealers Association and formally launched in June, is derived from actual overnight secured transactions.
“For too long, Nigerian financial contracts have been priced off a patchwork of different reference rates. Borrowers and lenders have often been left asking a simple question: which rate is the real cost of money? NOFR offers a clear answer,” he said.
He said the benchmark would improve loan pricing, financial documentation, hedging and risk management, urging corporate treasurers to understand how it would affect their financing arrangements, contracts and forecasts.
Ogunnubi also pointed to improved international confidence in Nigeria’s economy, reflected in rating actions by S&P Global Ratings, Moody’s and Fitch Ratings, alongside the country’s reinstatement in FTSE Russell’s Frontier Market index.
He said these developments demonstrated how transparent financial markets and credible pricing mechanisms could improve investor confidence and support access to capital.
However, he warned that Nigeria must sustain policy consistency, deepen its financial markets and maintain economic discipline to protect the gains and achieve investment-grade sovereign status.
The ACTN president also called on the government and regulators to strengthen digital infrastructure, cybersecurity and financial system resilience as businesses increasingly adopted technology-driven financial operations.
He welcomed the CBN’s and the National Information Technology Development Agency’s data localisation initiatives, including the requirement for payment transaction data generated in Nigeria to be stored and managed locally from January 2027.
He also acknowledged the National Sovereign Cloud Initiative and the Cyber Resilience Framework for the Nigerian Communications Sector, whose obligations take effect on 23 February 2027.
He urged regulators to implement the frameworks with practical timelines and adequate consultation to prevent disruptions to commercial activities.
Ogunnubi further called for investment in digital skills, saying finance professionals needed the capacity to use emerging technologies responsibly, interpret data and exercise sound judgement.
He said the ACTN would continue to engage the government and regulators on policies that improve the operating environment for businesses.
The association president announced that the Treasury360 Conference, Exhibition and Corporate Treasury Awards 2026 would hold on 26 and 27 November at the MUSON Centre, Onikan, Lagos.
He said the two-day event would bring together corporate treasurers, chief financial officers, finance executives, financial institutions, fintech companies, technology providers, regulators and other stakeholders.
The conference would feature discussions on treasury management after market volatility, the implications of the Nigerian Overnight Financing Rate, and the adoption of artificial intelligence and automation without compromising internal controls.
He named the Managing Director and Chief Executive Officer of Financial Derivatives Company Limited, Bismarck Rewane; Convexity Technologies Limited’s Founder and Chief Operating Officer, Adedeji Owonibi; CEDE Technologies’ Co-Founder and Chief Executive Officer, Akin Afolabi; and Multigate’s Founder and Chief Executive Officer, Eghosa Nehikhare, as keynote speakers.
Ogunnubi said the conference would also feature an exhibition of banking, payment, treasury technology and risk-management solutions, alongside awards recognising organisations and teams for excellence, innovation and resilience in corporate treasury management.
He urged corporate treasurers, finance executives, banks and technology providers to participate, saying the event would provide an opportunity to understand emerging developments and strengthen financial management practices.
Arinze Nwafor is a journalist at Punch Newspapers with five years of experience reporting on Nigeria’s economy, industry, data, metro, and judiciary. He focuses on highlighting growth, policy, and market challenges shaping Africa’s largest economy. Arinze’s reporting reflects practical newsroom experience, editorial judgment, and a strong commitment to accurate, informative, and audience-focused journalism.
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