Galaxy Backbone Targets Banks Post CBN Data Directive

Galaxy Backbone is actively working to attract banks and fintech institutions to its digital infrastructure services in response to a recent directive from the Central Bank of Nigeria (CBN). This directive mandates that payment transaction data must be stored on local servers within Nigeria to strengthen regulatory oversight and improve transparency.

During a webinar focused on building digital trust in Nigeria's financial sector, Galaxy Backbone's Executive Director of Finance, Ibrahim Sani, emphasized the need for a secure and reliable digital infrastructure to support the evolving regulatory requirements. The organization continues to provide digital backbone support to both public and private sector institutions, including several financial institutions that rely on its secure cloud data center services.

The webinar also featured discussions on compliance with regulatory frameworks and the importance of collaboration among technology providers and financial institutions to enhance digital trust. Galaxy Backbone's commitment to supporting the financial services industry was reaffirmed, highlighting the necessity of resilient and secure infrastructure.