Nigeria’s central bank data localisation push is about more than local servers
- The CBN directed banks and fintechs to store payment data generated in Nigeria locally by January 1, 2027.
- Nigeria processed over ₦1.2 quadrillion ($880.51 billion) in transactions in 2025, prompting the localisation move.
- Financial institutions must assess their dependence on technology providers and ensure resilience in their data management.
The CBN's approach to data localisation reflects a necessary shift towards greater control and resilience in Nigeria's financial sector. However, the challenges of implementation and the balance between local sovereignty and global partnerships will require careful navigation to avoid potential disruptions in service and innovation.
