Nigeria to require local storage of payment data from 2027

Nigeria's central bank has ordered banks and payment firms to store transaction data generated in the country locally by January 1, 2027. Two months later the government unveiled a National Digital Cloud Policy, creating overlapping mandates for the CBN, NITDA and the data protection commission.

• CBN mandates local storage of payment data by January 1, 2027
• National Digital Cloud Policy followed two months after CBN rules
• Mandates are split between CBN, NITDA and the data protection commission
• Firms face concurrent compliance with both regulators' requirements