CBN’s 2027 Data Localisation Order to Boost Nigeria’s Data Centre Industry
The Central Bank of Nigeria directed banks, payment service providers and fintech firms to store all customer and transaction data generated in Nigeria on local servers by 1 January 2027, issuing the circular in early June 2026. Industry leaders say the rule could spark a wave of investment in data‑centre infrastructure, create construction and operations jobs, lower latency for financial services and cut the foreign‑exchange spent on overseas cloud hosting.
Why it matters: Nigeria’s banks and fintechs currently rely on servers in Europe and North America, sending regular FX payments abroad. Keeping data locally would keep those payments in naira, easing pressure on the currency. Data‑centre executives Ikechukwu Nnamani (Digital Realty Nigeria) and Dr Ayotunde Coker (Open Access Data Centres) argue that demand will drive supply—new facilities will be built, existing ones expanded, and power needs can be met with gas‑generation and state‑grid upgrades. They also note Lagos is already a West‑African digital hub, hosting foreign data, so reversing the flow is feasible.
What this means for you: If you work in tech, construction, or finance, the push for local data hosting may open jobs and investment chances. Businesses that handle Nigerian payments should start budgeting for local hosting or renegotiating contracts to avoid last‑minute rush and potential FX costs as the 2027 deadline approaches.