The Central Bank of Nigeria has mandated that all payment transaction data generated within the country must be stored on local servers by January 1, 2027, as part of new measures to enhance regulatory oversight in the rapidly growing digital payment ecosystem.
The Central Bank of Nigeria (CBN) has mandated banks and fintechs to localize payment data within six months, effective until January 1, 2027. This regulation aims to enhance oversight and compliance in Nigeria's digital payment ecosystem.
The Central Bank of Nigeria mandates that all banks and fintech firms store payment transaction data locally by January 1, 2027, to enhance regulatory oversight and data sovereignty in the rapidly growing digital payment ecosystem.
