The rapid advancement of artificial intelligence (AI) technologies has significantly transformed digital communication while simultaneously enabling sophisticated cyber threats, particularly AI-powered scams and deepfake-based deception. Deepfake technologies, which involve the generation of highly realistic synthetic audio-visual content, are increasingly exploited for impersonation, fraud, and misinformation, thereby posing serious risks to digital trust and cybersecurity. In Nigeria, the widespread adoption of digital platforms among tertiary institution students has heightened their exposure to such threats. This study examined the roles of cybersecurity awareness, digital literacy, and media literacy in shaping students’ preparedness to detect AI-powered scams and deepfakes in tertiary institutions in Enugu State, Nigeria. A descriptive survey design was adopted, involving 469 students selected through a multistage sampling technique from universities, polytechnics, and colleges of education. Data were collected using a structured Google Forms questionnaire and analysed using mean, standard deviation, and independent samples t-test at a 0.05 level of significance. The findings revealed that students possessed cybersecurity awareness, digital literacy, and media literacy to a great extent (Grand Mean = 3.34), and demonstrated preparedness against AI-powered scams and deepfakes to a great extent (Grand Mean = 3.21). However, their ability to detect manipulated media remained relatively weak. No significant difference was found between male and female students in both awareness and preparedness. The study concludes that while students demonstrate reasonable awareness, targeted educational interventions are required to improve their ability to detect sophisticated AI-driven threats. It recommends the integration of deepfake awareness and AI fraud detection strategies into tertiary institution curricula.