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Fintech boss pushes for law to regulate AI usage, tackle digital age challenges – The Nation Newspaper

Last updated: November 30, 2025 2:45 am
Published: 5 months ago
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The co-founder of a United States Financial Technology hub and migration infrastructure company, Vesti, Abimbola Amusan, has advocated for urgent legislative reforms to regulate the use of artificial intelligence and address emerging digital-age challenges.

Amusan, speaking at a legislative summit tagged ‘Digital Democracy: Youth, Technology, and Modern Legislation’ in three local government areas, including Ayedaade, Irewole, and Isokan of Osun State, at the weekend, warned that Nigeria’s current legal frameworks are outdated and inadequate for today’s technology-driven economy.

He recalled that Vesti tapped into the digital age opportunities, hence it launched an AI assistant for migrants and provided over N1billion travelling loans.

According to him, “Modern challenges demand modern laws, there should be urgency to deliver modern legislation. We must rethink legislation around Data privacy, Cybersecurity, Digital identity, AI ethics and governance, online civic rights, Digital inclusion, and Technology-driven economic participation.

“Lawmakers must now act with the agility of technologists, while still maintaining the prudence of public servants. The future of governance is hybrid, a collaboration between policymakers, technologists, the private sector, and young innovators.”

He asserted that taking the step will create a blueprint for the future where governance becomes participatory, legislation becomes adaptive, and young people become co-architects of national development.

He also pushed for a shift from traditional power to digital participation, saying, “For decades, democratic participation was shaped by physical town halls, ballot boxes, and long bureaucratic processes. But today, the digital space has become the new civic arena.

“Social media is now the largest public square. Algorithms influence public opinion faster than television ever did. Young people participate in governance not through hierarchy, but through networks.”

He added that “Technology is no longer just a tool; it is a democratic force. So, the question before us is not whether digital democracy is coming. It is how prepared we are to shape it.”

Amusan tasked youths and the government to take advantage of the immense advantage of the digital space, saying “AI can be used for policy modeling and public service automation; Blockchain for transparent elections and public spending; Data analytics for real-time citizen feedback and Civic tech platforms that enable more direct public participation.”

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