Nigerian Tycoon Elumelu Calls for Safeguards After AI-Generated Scam Video
Tony Elumelu, a Nigerian tycoon who chairs several companies including the United Bank of Africa and Transnational Corporation, has called on Nigerian authorities to put in place safeguards to curb digital fraud.
“A few days ago, my team flagged an AI-generated video of me endorsing a forex and crypto platform. It looked and sounded remarkably real, but it was completely fake. This incident highlights a growing and serious threat to digital trust,” he said on Monday on social media platform X.
He said: “For the avoidance of doubt, I am not associated with any crypto or forex trading platforms. My commitment to inclusive prosperity has always been through long-term investments, building sustainable businesses, and empowering entrepreneurs.
“I strongly believe in the potential of AI. It is a defining technology of our time, and African youth must be at the forefront of adopting it to build scalable solutions. We cannot afford to be left behind in the global tech race.
“But the flip side of rapid innovation is the risk of abuse. The ease with which identities can now be cloned to deceive the public is alarming. Policymakers and regulators in Nigeria must act now to establish safeguards and hold those using it to scam innocent people accountable.
“We must create a safe digital environment where true innovation can thrive without being overshadowed by fraud. Protect your hard-earned money, stay alert, and let us continue to build the Africa we deserve.”
