The Punch
Central Bank of Nigeria upholds January 1, 2027 deadline for local data storage
The Central Bank of Nigeria has confirmed that banks and fintech companies must store all domestic payment transaction records within the country by January 1, 2027.
Financial institutions operating in Nigeria are required to manage and store payment data locally starting January 1, 2027. The Central Bank of Nigeria ruled out extending this deadline for banks and fintech firms. This mandate ensures that transaction records generated within the country remain stored domestically.
Brief written with AI from reporting by The Punch. All rights to the original story belong to the publisher.