Prominent African businessman and philanthropist, Tony Elumelu, has warned the public about the growing risks of artificial intelligence misuse after an AI-generated video falsely portrayed him endorsing a forex and cryptocurrency trading platform.
Elumelu disclosed this in a post on his X handle on Monday, saying the video, which appeared realistic, was completely fabricated.
“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 wrote.
He stressed that he has no affiliation with any cryptocurrency or foreign exchange trading platforms.
“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,” he said.
While acknowledging the transformative potential of artificial intelligence, Elumelu urged African youths to embrace the technology responsibly and use it to develop scalable solutions.
“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,” he added.
The business leader, however, warned that rapid technological advancement also presents risks if not properly regulated.
“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 must act now to establish safeguards and hold those using it to scam innocent people accountable,” he said.
Elumelu also urged the public to remain vigilant and protect themselves from digital fraud.
“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,” he said.
In the post, he also tagged X owner, Elon Musk, and Nigeria’s Federal Ministry of Communications, Innovation and Digital Economy while calling for stronger safeguards against the misuse of artificial intelligence.
This incident aligns with a broader pattern of AI-powered scams targeting high-profile Nigerians.
A former vice president, Atiku Abubakar, earlier in March, had to deny an AI-generated video of him promising a massive giveaway to Nigerians.
In the purported AI video, Atiku could be heard saying: “I will be giving massive giveaways this month and selecting people at random as a way of showing support to every average Nigerian.”
His media aide, Paul Ibe, however, distanced the former VP from the shambolic empowerment scheme trending online.
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