Nigeria’s central bank has directed banks, fintechs and payment operators to store payment transaction data locally by 2027 as it tightens oversight of digital finance

The CBN has directed banks and fintechs to store payment transaction data generated in Nigeria on local servers from Jan 1, 2027, enhancing oversight and d

The Central Bank of Nigeria (CBN) has effectively drawn the curtain on the era of offshore payment processing, directing banks, fint...

The CBN has directed Nigerian banks and fintechs to store all payment transaction data on local servers from January 1, 2027, enhancing oversight and data

The Central Bank of Nigeria, CBN, has directed banks, fintechs and other operators in the payments ecosystem to store all payment transaction data generated in Nigeria within the…

• Moves to curb market dominance, concentration risk in payments ecosystem

Nigeria’s central bank has directed banks, fintechs and payment operators to store payment transaction data locally by 2027 as it tightens oversight of digital finance

The CBN's new Payments System Vision 2028 aims for biometric-driven, invisible payments but warns of data protection gaps. Learn how this impacts Nigerians