A recent survey by the National Information Technology Development Agency (NITDA) has revealed that more than half of Nigeria’s financial institutions are yet to comply with the country’s data localisation requirements. According to the findings presented by Dr Muhammad Aminu Lawal, Special Assistant on Digital Transformation to the Director-General of NITDA, Kashifu Abdullahi, only 22 out of 44 financial institutions have begun implementing measures to comply with the impending regulations. With the deadline for compliance set for January 1, 2027, the survey highlights the need for the affected institutions to expedite their preparations to avoid penalties. This development is significant for Nigerian businesses and consumers, as data localisation aims to enhance data security and promote digital growth in the country. NITDA has not said when the facility began operating.
By
