By Daniel Oluwatobiloba Popoola
The Lagos State Government has charged the Institute of Chartered Accountants of Nigeria (ICAN) to move from merely deliberating on Artificial Intelligence to defining the rules governing its use in public financial management.
According to a statement, the state Commissioner for Finance, Mr Abayomi Oluyomi, FCA, gave the charge on Thursday, 10 September, 2026 at the 17th Annual Public Lecture and Investiture of the new Executive Committee of the ICAN Lagos State Public Service Chapter, held at Lagos Airport Hotel, Ikeja, where he spoke on the theme “Opportunities and Challenges of Artificial Intelligence for Accountants in Public Service.”
Oluyomi explained that AI was no longer a distant possibility but an emerging reality already transforming financial systems, transactions and public service delivery.
He noted that the scale of Lagos’ public finances made the effective use of technology increasingly important, citing the state’s N4.44 trillion 2026 budget and N1.67 trillion recurrent revenue generated in the first half of the year, of which N1.166 trillion was internally generated.
According to the Commissioner, AI offers significant opportunities in financial reconciliation, anomaly detection, revenue forecasting and automation, stressing that such tools could strengthen preventive controls and free accountants to focus more on analysis, professional judgement and stewardship.
He, however, cautioned that AI adoption must be anchored on data quality, accountability, security and responsible procurement.
Oluyomi emphasised that while AI could generate recommendations, accountability for public financial decisions must remain with professionals.
He charged ICAN to take the lead in developing professional standards, training curricula and ethical guidelines to govern the use of AI in public financial management.
“Move from deliberating on artificial intelligence to defining the rules for it,” he said, assuring the institute that the Lagos State Government would be a willing partner in the process.
The Commissioner further stressed the importance of continuous professional development, noting that the accountant of the future would not be replaced by AI but would be one who understands, interrogates and governs its application.
Oluyomi reiterated the commitment of the Lagos State Government to sound fiscal management, institutional excellence and the responsible adoption of technology in the service of Lagosians.
