Research Article

Artificial Intelligence-Driven Data Analytics and Financial Crimes Reduction in Nigerian Deposit Money Banks

OLAOYE Ayoola Azeez (Ph. D, ACA)1*, BELLO Wasiu (Ph. D)1, Afolabi, Jamiu Adedayo (Ph. D)1, IGBAROOLA Oluwafemi Ayodimeji (ACA1, ORIOLA Wasiu Olaniyi (M. Sc, ACA)2
1 Department of Accounting, University of Ilesa, Ilesa, Osun State, Nigeria
2 Woo & Associate (Financial & Management Consultants) Osogbo, Osun State, Nigeria
* Corresponding author: ayoola_olaoye@unilesa.edu.ng
Published: Oct, 2026
Pages: 1 - 13

Abstract

AI-powered banks’ fraud detection skills are essential in developing countries like Nigeria, where fraudsters frequently take advantage of detection system delays. This study investigates the effectiveness of Artificial Intelligence (AI) driven data analytics on financial crime reduction in Nigerian Deposit Money banks. This study employed a quantitative research design and utilized a balanced panel dataset comprising five (5) major Nigerian Deposit Money Banks observed annually over 7 years (2019-2015). Random effects regression and correlation analysis were employed for data analysis. Findings reveal that data quality, feature engineering, and large dataset size positively and significantly impact AI’s financial crime reduction capability in Nigerian deposit money banks s. The findings also demonstrate that 76% of the reduction in banks’ fraud loss is explained by AI-driven data analytics explanatory’s variables. The study concludes that AI-driven data analytics is effective in reducing financial crimes in Nigerian Deposit Money Banks, and recommends more investment in data infrastructure and cutting-edge analytics methods to enhance data governance. The study presents an organized approach that connects detection accuracy of data quality, feature engineering, and dataset size to financial crimes reduction in the Nigerian banking industry.

Keywords

AI-driven data analytics Nigerian Deposit Money Banks financial crimes reduction

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How to Cite

ACA), O. A. A. (. D., D), B. W. (., D), A. J. A. (., (ACA, I. O. A., & ACA), O. W. O. (. S. (2026). Artificial Intelligence-Driven Data Analytics and Financial Crimes Reduction in Nigerian Deposit Money Banks. Impressive Journal of Management and Social Sciences, 3(2), 1 - 13.

O. A. A. (. D. ACA), B. W. (. D), A. J. A. (. D), I. O. A. (ACA, and O. W. O. (. S. ACA), "Artificial Intelligence-Driven Data Analytics and Financial Crimes Reduction in Nigerian Deposit Money Banks," Impressive Journal of Management and Social Sciences, vol. 3, no. 2, pp. 1 - 13, October 2026.

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