GFA Technologies Group co-founder sees huge potential in CBN data localisation directive - Businessday NG

…says to create measurable, long-term demand for sovereign digital infrastructure

The Central Bank of Nigeria’s (CBN) data localisation directive is unlocking unprecedented value for local technology providers, said Adebola Omololu, co-founder of GFA Technologies Group.

The CBN recently directed banks, fintech companies, mobile money operators and other payment service providers to ensure that payment transaction data generated within Nigeria is stored and managed locally in line with applicable data protection regulations, with full compliance expected by January 1, 2027.

“The CBN Data Localisation Directive should therefore be viewed not simply as a compliance requirement, but as a catalyst for Nigeria’s next phase of digital infrastructure development,” Omololu said.

For the first time, a regulatory directive has the potential to create measurable, long-term demand for sovereign digital infrastructure in Nigeria