By Babajide Komolafe
The Central Bank of Nigeria, CBN, data localisation directive will create measurable, long-term demand for local data centres, cloud services and other sovereign digital infrastructure, GFA Technologies Group has said.
Co-founder of GFA Technologies Group, Adebola Omololu, stated this while assessing the investment opportunities arising from the directive, describing it as a catalyst for the next phase of Nigeria’s digital infrastructure development.
The CBN recently directed banks, fintechs, mobile money operators and other payment service providers to ensure that payment transaction data generated in Nigeria is stored and managed locally, with full compliance expected by January 1, 2027.
Omololu said: “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.
