GenAI can detect fraud in our budgets. BudgIT took months to find loopholes that GenAI could spot in minutes.
Dr. Nasir Aminu, Senior Lecturer in Economics and Finance at Cardiff Metropolitan University, has stressed that artificial intelligence (AI) could be pivotal in exposing Nigeria’s recurring budget padding and improving fiscal efficiency. In an interview, Aminu explained that generative AI tools like ChatGPT can detect fraud, identify inconsistencies in budget line items, and provide quicker alternatives for public spending.
“So, there is room for it, especially in Nigeria, where we have a culture of slow and lack of inefficient work. GenAI can enhance and make things more efficient,” Dr. Aminu said. He highlighted that NGOs like BudgIT spend months uncovering loopholes that AI could detect in minutes.
He also noted that while AI cannot replace human decision-making in finance, it remains a powerful tool for governments to boost transparency and accountability in public finance management. Dr. Aminu urged strategic adoption of AI to curb wastage and rebuild investor confidence in Nigeria’s economy.