As Nigeria pushes for greater control over its financial data, Galaxy Backbone (GBB) is positioning itself as a key partner for banks, fintech companies, and payment service providers seeking to comply with the Central Bank of Nigeria’s (CBN) new data localisation requirements. The government-owned digital infrastructure provider has intensified engagement with financial institutions, offering secure local hosting solutions designed to meet evolving regulatory demands.
The move comes on the heels of the CBN’s directive requiring banks, fintech firms, mobile money operators, and other payment service providers to store payment transaction data generated within Nigeria on local servers. The policy is aimed at strengthening regulatory oversight, enhancing transparency, and ensuring that critical financial information remains within the country’s jurisdiction. Industry experts believe the directive could significantly reshape how financial institutions manage and secure customer data.
To support compliance efforts, Galaxy Backbone recently convened Chief Information Officers, fintech executives, and technology stakeholders at its second-quarter webinar, where discussions centered on digital trust, resilient infrastructure, and regulatory compliance. The company used the platform to showcase its growing digital infrastructure capabilities, positioning itself as a trusted local alternative for data hosting and cloud services.
According to Galaxy Backbone, its offering is backed by Uptime-certified data centres, Payment Card Industry Data Security Standard (PCI DSS) certification, a sovereign cloud platform, and an extensive nationwide fibre network. These assets, the company said, provide financial institutions with secure environments for data storage, payment security, disaster recovery, business continuity, and compliance with emerging regulations. The firm stressed that keeping sensitive financial data within Nigeria not only supports compliance but also strengthens national data sovereignty.
Speaking during the webinar, Executive Director of Finance, Ibrahim Sani, noted that the rapid evolution of Nigeria’s financial sector has increased the need for trusted digital infrastructure. Other executives, including Head of Automation and Integration, Thomas Oghenebhumhe, and Head of Data Centre Operations, Samuel Olusola Oyeleke, highlighted the role of Galaxy Backbone’s sovereign cloud and globally certified Tier III and Tier IV data centres in helping institutions safeguard sensitive information while ensuring uninterrupted operations. As the CBN tightens enforcement of data localisation rules, Galaxy Backbone appears determined to become a leading infrastructure provider in Nigeria’s growing digital finance ecosystem.
source: vanguard