PeacePro Urges CBN to Prioritise Nigerian Firms in Data Localisation Drive

The Foundation for Peace Professionals has welcomed the CBN directive requiring banks and payment service providers to store and manage Nigerian payment transaction data within the country. The policy is due for full compliance by January 1, 2027. The group said the policy could strengthen Nigeria’s digital sovereignty and create opportunities for local data centres, cloud services, cybersecurity firms, software developers and technology professionals. It urged regulators to ensure qualified Nigerian-owned technology providers benefit from the transition. The group added that foreign technology should support local capacity, not replace it, while banks’ migration and cybersecurity concerns should be addressed through clear technical standards.

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