Nigeria’s financial reporting requires the technological know-how to interpret data and pitfalls inherent in the usage of Artificial Intelligence by media professionals, the Executive Director/Chief Rating Officer of DataPro, Oladele Adeoye, has said.

He pointed out that concerns over transparency, data interpretation and credibility in economic reporting should be addressed to preserve the unbiased nature of the profession.

Speaking at the yearly virtual media training, a capacity-building initiative launched in 2021 to deepen public understanding of credit ratings and strengthen financial journalism, Adeoye said the training comes at a time when AI tools are rapidly transforming how financial data is generated, analysed and reported.

He noted that traditionally, journalists relied on company disclosures, analyst briefings and expert interviews, but that is changing today as AI can equally provide vital information.

“Today, AI systems can process vast datasets, generate real-time insights and even draft financial summaries, which is not just reshaping newsroom workflows but also raising risks around bias, misinformation and opacity. The shift goes beyond speed to deeper issues of trust. Financial reporting is no longer just about numbers; it is about trust, transparency, and resilience,” he stated.

He further noted that journalists must now interpret dynamic data in ways that empower decision-making.

The programme drew participants from print and electronic media, capital market editors, financial analysts, communication officers and industry influencers.

The broader objectives of the training reflected a widening skills gap in financial journalism, particularly in emerging markets, such as understanding financial statements (balance sheets, income and cash flow); interpreting ratios and performance indicators; applying AI tools in data analysis and storytelling and ensuring transparency and accountability in reporting.

Participants also underwent hands-on sessions using real-world financial data, alongside case studies of corporate and government reporting.

Adeoye disclosed that beyond journalism training, the initiative forms part of DataPro’s broader effort to expand awareness of the credit rating industry, which is seen as critical to capital allocation and investor protection.

Licensed by the Securities and Exchange Commission of Nigeria since 2004, the firm has positioned itself as a technology-driven player leveraging AI, machine learning and big data to improve turnaround time and transparency in rating processes.

Adeoye said DataPro’s push also reflects broader shifts in Nigeria’s financial ecosystem, where demand for credible, data-backed analysis is rising amid market volatility and reforms.

Participants agreed that improving journalists’ understanding of financial analysis could have ripple effects across the economy.

They noted that better-informed reporting can enhance investor confidence, reduce misinformation, and improve public financial literacy, which are key gaps in Nigeria’s capital market development.

They think that the integration of AI into financial reporting obviously raises new governance questions, particularly around verification, accountability and editorial independence.

However, Adeoye maintained that AI will not replace financial analysts or journalists but will redefine their roles.

He explained that as financial reporting becomes faster and more predictive, the emphasis is shifting toward interpretation, validation and ethical communication of data, which is the very skill the training aimed to strengthen.