The Co-Founder of GFA has expressed confidence that the Central Bank of Nigeria’s (CBN) data localisation directive will stimulate greater investment in the country’s digital infrastructure by encouraging financial institutions and technology companies to expand local data storage, cloud computing, and cybersecurity capabilities. According to the technology executive, the policy has the potential to strengthen Nigeria’s digital economy by promoting local innovation, improving data security, enhancing regulatory compliance, and creating new opportunities for indigenous technology firms. He noted that increased demand for local data centres and supporting infrastructure could attract both domestic and foreign investment while generating employment opportunities for skilled professionals in information technology, engineering, cybersecurity, and related sectors. The directive is also expected to encourage collaboration between financial institutions, telecommunications providers, cloud service operators, and technology startups to build more resilient digital ecosystems capable of supporting the country’s growing digital financial services industry. The GFA Co-Founder further stated that keeping sensitive financial data within Nigeria could improve operational efficiency, strengthen customer confidence, and support national efforts to safeguard critical digital assets against emerging cyber threats. Industry stakeholders have welcomed the initiative, describing it as a strategic step toward deepening digital transformation and accelerating the development of world-class technology infrastructure across the country. Analysts believe that successful implementation of the policy will depend on sustained investment, supportive regulations, reliable electricity, high-speed connectivity, and continuous innovation. As Nigeria continues to embrace digital finance and technology-driven services, experts maintain that stronger local infrastructure will play a vital role in enhancing competitiveness, attracting investment, supporting economic diversification, and positioning the country as a leading digital economy in Africa.
