BUSINESS
CBN Maintains Deadline for Local Data Storage
The Central Bank of Nigeria has ruled out an extension of the 1 January 2027, deadline for financial institutions to store and manage payment transaction data generated in Nigeria locally, putting pressure on banks, fintechs and payment service providers to complete their migration plans.
The disclosure was made at the CloudReady Nigeria Financial Services Roundtable, hosted in Lagos by Africa Hyperscalers Company in partnership with 100 Women in Digital Infra, Open Access Data Centres, Layer3, Nobus Cloud Services and the National Information Technology Development Agency.
Director of the CBN’s Payments System Supervision Department, Dr.
Rakiya Yusuf, reiterated the position in remarks delivered on her behalf by Assistant Director Babatunde Ajiboye at the CloudReady Nigeria Financial Services Roundtable organised by Africa Hyperscalers in Lagos. Yusuf was represented by Ajiboye, Payments Systems Supervision Division, CBN.The requirement was set out in a circular issued on 15 June 2026, directing payment service providers and other covered institutions to store and manage payment transaction data generated within Nigeria in the country. The deadline leaves affected institutions with limited time to assess their systems, review contracts with technology providers, and complete the migration of relevant data.
Yusuf said institutions must examine more than the physical location of their databases. Their compliance work should cover transaction logs, audit trails, metadata and the systems supporting payment operations.
She also warned that institutions must preserve service continuity and data integrity throughout the transition. A migration that meets the location requirement but disrupts payment services or compromises records would not adequately address the operational risks involved.
For cross-border transactions, financial institutions must ensure that records covered by the Nigerian requirement remain compliant while accounting for the needs of foreign counterparties. Institutions experiencing difficulties are expected to demonstrate the progress they have made, identify outstanding gaps and present credible plans for addressing them.
The CBN also urged financial institutions to review their agreements with cloud and technology providers to establish where data is stored, how it is processed and backed up, and whether existing arrangements can meet the new requirements.
The deadline formed part of a wider discussion about Nigeria’s push to strengthen digital sovereignty and develop local infrastructure capable of supporting sensitive financial workloads.
That would require clearer guidance on data and workload classification, resilient infrastructure, trusted service providers and coordination among regulators and industry participants, Osunrinde said.
The roundtable was intended to bring regulators, financial institutions and infrastructure providers together to discuss the practical requirements of compliance, including data residency, cybersecurity, cross-border transfers, business continuity and disaster recovery.
The discussions also highlighted the potential economic implications of the policy. More demand for locally hosted workloads could create opportunities for Nigerian cloud providers, data centre operators, cybersecurity companies and technology professionals. However, that opportunity depends on providers being able to demonstrate the security, reliability and capacity required by financial institutions.
The Chief Operating Officer of Nobus Cloud, Stephen Okoye, declared that locally developed cloud technology could support financial institutions seeking to move workloads into Nigeria while retaining the technical controls required for regulated operations.
He highlighted the role of Nigerian engineers in developing local cloud services and discussed the provider’s infrastructure, including its two availability zones. Okoye also cited the company’s compliance and assurance credentials, including ISO standards, Payment Card Industry Data Security Standard requirements, and the Nigeria Data Protection Act.
He said Nobus Cloud offered support to organisations migrating their systems, a process that can involve more than transferring information from one server to another. Institutions may need to review application dependencies, security configurations, connectivity and recovery arrangements before moving critical workloads.
Okoye also pointed to the company’s claimed 100 per cent uptime as an indication of its service reliability. For financial institutions, however, providers’ assurances must be assessed alongside their technical evidence, resilience arrangements and ability to maintain services during an outage or other disruption.
The transition is likely to require institutions to weigh local hosting options against their existing technology arrangements, particularly where applications rely on services and tools provided by international cloud platforms.
The Chief Executive Officer of Open Access Data Centres, Dr. Ayotunde Coker, said readiness for the transition would depend on the complexity and requirements of each financial institution’s workloads.
He urged institutions to assess their needs and risks before deciding what to migrate, rather than treating localisation as a straightforward relocation exercise. Financial operators need to understand the demands of their applications, the infrastructure available to support them, and the regulatory requirements that apply to their data.
Coker also highlighted the importance of local data centres, connectivity and reliable power in building a stronger digital infrastructure ecosystem. Investment in these areas will be important as demand for cloud computing and more advanced digital services, including artificial intelligence, grows.
The discussion underscored that the availability of local data centre space is only one part of readiness. Financial institutions must also consider connectivity between systems, redundancy, disaster recovery and the capacity to keep critical services running if infrastructure fails.
For institutions with applications designed around overseas cloud platforms, migration may require architectural changes and testing to ensure that systems continue to perform as expected. The process can also affect costs, depending on the complexity of the workload and the changes required.
The Nigerian Data Protection Commission also emphasised the need to protect personal data and manage the risks associated with cloud service providers.
National Commissioner and Chief Executive Officer of the commission, Dr. Vincent Olatunji, was represented at the event by Ibukunoluwa Owa. The commission’s contribution focused on the responsibilities of organisations that determine how personal data is processed and those that process it on their behalf.
Owa highlighted the need for data protection impact assessments, third-party risk assessments and appropriate data processing agreements. Institutions must understand the responsibilities of their service providers and ensure that their arrangements comply with applicable data protection requirements.
The commission’s guidance also covered breach reporting, transparent privacy policies and the need for organisations to explain how they will protect customers’ information.
Owa stressed the importance of preparing for operational disruption, including setting out appropriate remedies for possible downtime and maintaining disaster recovery plans.
BUSINESS
NAFOWA Empowers 18 Widows, Donates Tricycles in Bayelsa
From Mike Tayese, Yenagoa
The Nigerian Air Force Officers’ Wives Association (NAFOWA), Mobility Command, Yenagoa, has empowered 18 widows of deceased Air Force personnel in Bayelsa.
The beneficiaries received livelihood support materials and equipment under the association’s 2026 Military-Civilian Relationship outreach programme.
The event, held on Wednesday at the Nigerian Air Force Sports Complex, Air Force Base, Opolo, Yenagoa, featured the distribution of sewing machines, wheelbarrows, poultry farming equipment and animal feeds.
Chairperson of NAFOWA, Mobility Command, Yenagoa, Jennifer Onyebuchi, represented the association’s National President, Mrs Ngozi Aneke, at the programme.
Speaking on the rationale for the intervention, Onyebuchi said it was inspired by the association’s commitment to service to humanity and the need to alleviate the suffering of widows.
“In keeping with NAFOWA’s motto, which is service to humanity, that is why we came up with this programme.
“Our National President, Mrs Ngozi Aneke, has led by example. She has done something like this nationally, and we are supposed to follow in her footsteps,” she said.
Onyebuchi said the association recognised the challenges faced by widows who suddenly assumed responsibility as breadwinners and heads of their families.
“We might not really know what they are going through, but I know they are going through a lot.
“It is not easy to suddenly become the breadwinner of the family. We have to do things from time to time to help them and alleviate their suffering,” she said.
She said the intervention was also intended to reassure the beneficiaries that they had not been forgotten despite the loss of their husbands.
“We want to give them hope that they are not forgotten,” she said.
In a related development, the outgoing Air Officer Commanding (AOC), Mobility Command, Air Vice Marshal Michael Onyebuchi, donated three tricycles to NAFOWA, Mobility Command, Yenagoa.
The donation was aimed at improving transportation within the barracks for women, children, junior officers and corps members without convenient means of mobility.
Onyebuchi said the gesture was also in appreciation of the cooperation, understanding and support he received from the association during his tenure as AOC.
He expressed the hope that the tricycles would ease the association’s operations and provide an avenue for generating income to support its activities.
The outgoing AOC handed over the tricycles to the association’s Secretary, Grace Onwuchekwa, with a charge to ensure their prudent and productive utilisation.
Onwuchekwa thanked the AOC on behalf of the association and its incoming chairperson, describing the donation as a welcome support to the organisation.
She pledged the association’s commitment to making effective use of the facilities.
Business News
Customs CG Tasks Officers on Discipline, Integrity
By Tambaya Julius, Abuja
The Comptroller-General of the Nigeria Customs Service (NCS), Bashir Adewale Adeniyi, has called on officers and men of the Customs Police Unit (CPU) to uphold discipline, professionalism and integrity, stressing that accountability must begin within the Service.
Adeniyi made the call while delivering the keynote address at the inaugural Customs Police Summit 2026, held at the NAF Conference Centre and Suites, Abuja.
The summit, with the theme, “Reimagining Customs Policing: Learning From the Past, Responding to the Present, and Preparing for the Future,” brought together customs personnel and representatives of security and law enforcement agencies to discuss ways of strengthening the unit and preparing it for emerging enforcement challenges.
The Customs boss, who is also the Chairperson of the World Customs Organization (WCO) Council, said the Service must first demonstrate the discipline and integrity it expects from traders and members of the public.
He described the Customs Police Unit as a critical part of the Service’s internal control system, noting that its responsibility goes beyond investigating misconduct to ensuring that officers exercise their powers within the confines of the law.
According to him, the unit, formally inaugurated in July 2019, was established to investigate erring personnel, prevent crime and promote compliance, guided by the principle that no officer is above the law.
He said the experience of the Service over the years had reinforced three important lessons: integrity must begin at home, enforcement powers must be exercised responsibly, and effective policing requires cooperation among relevant institutions.
The Comptroller-General expressed concern over the growing sophistication of criminal networks, which he said were increasingly exploiting legitimate trade routes and digital platforms to move illicit goods, including firearm components, narcotics, counterfeit medicines, protected wildlife and proceeds of illegal activities.
He maintained that tackling these threats required more than aggressive enforcement, calling instead for smarter, intelligence-driven operations supported by technology and international best practices.
Adeniyi pointed to several World Customs Organization instruments, including the SAFE Framework, Authorised Economic Operator (AEO) Programme, advance rulings, Time Release Study and Revised Kyoto Convention, as important tools for promoting compliance, facilitating legitimate trade and reducing opportunities for corruption.
He also highlighted the role of technology and data management in strengthening customs operations, citing the B’Odogwu platform, which integrates declarations, valuation, risk management and AEO processes.
He added that the INTERPOL Data Centre at Customs Headquarters had provided the Service with access to global criminal databases, while the Nigeria Customs Service Act 2023 had strengthened the legal foundation for intelligence-led operations, joint border activities and mutual administrative assistance.
The CGC identified Consolidation, Collaboration and Innovation as the three pillars that must shape the future of customs policing.
He explained that consolidation would require stronger operational procedures, improved investigations, properly documented cases for prosecution and continuous professional development of personnel.
He called for closer working relationships with the Nigeria Police Force, Armed Forces, National Drug Law Enforcement Agency (NDLEA), National Agency for Food and Drug Administration and Control (NAFDAC), Department of State Services (DSS), Independent Corrupt Practices and Other Related Offences Commission (ICPC), Nigeria Agricultural Quarantine Service (NAQS), neighbouring countries and border communities.
He also encouraged the Service to take advantage of emerging technologies, including artificial intelligence, advanced scanners, geospatial tools and electronic cargo tracking, to improve investigations and strengthen enforcement operations.
Adeniyi urged participants to use the summit to develop practical recommendations, including a Customs Police doctrine based on the NCS Act 2023 and Revised Arusha Declaration, improved protocols for joint operations and evidence management, guidelines for the responsible use of artificial intelligence in investigations, and better training and welfare for CPU personnel.
Addressing officers of the unit, he reminded them that their red berets represented the confidence Nigerians placed in the Service and must therefore be worn with discipline, restraint and pride.
He stressed that integrity remained the greatest badge of honour for every customs officer.
The Acting Provost Marshal of the NCS, Deputy Comptroller TS Sanusi, described the summit as an important step towards strengthening the institutional capacity and repositioning the Customs Police Unit.
Sanusi said the unit was established to provide a dedicated structure for maintaining discipline, investigating misconduct and ensuring compliance with professional standards among personnel and stakeholders.
He observed that the Service could not effectively enforce laws and regulate international trade without having strong mechanisms to promote discipline and accountability within its own ranks.
He added that the increasing challenges of transnational organised crime, illicit financial flows, corruption and emerging security threats had made the work of the Customs Police Unit more important.
The Acting Provost Marshal expressed appreciation to the Comptroller-General for his leadership, support and approval of funds for the inaugural summit, noting that the gesture reflected management’s commitment to strengthening the unit.
He also recognised the contributions of former Provost Marshals and personnel who helped establish the unit’s operational structures and professional standards.
Sanusi urged serving personnel to lead by example, insisting that discipline must begin with them if they were to earn the respect and confidence required to enforce it among others.
In his remarks, Assistant Comptroller-General of Customs at Headquarters, MS Shuaibu, called for a renewed approach to customs policing, with greater emphasis on professionalism, intelligence gathering and institutional accountability.
Shuaibu said the summit provided an opportunity to reflect on the unit’s achievements, address existing challenges and develop strategies to respond to changing global trade patterns and security threats.
He acknowledged the unit’s contributions to internal discipline, investigation of infractions and the protection of the Service’s interests, but stressed the need to continually improve its operational capacity.
He identified intelligence gathering, surveillance, risk analysis, inter-agency cooperation and modern investigative techniques as key areas requiring attention.
The ACG further emphasised that the exercise of police powers must be guided by respect for human rights and due process, warning that enforcement must never become an excuse for unjust treatment.
He urged officers to remain firm but lawful, courageous but responsible, and impartial in carrying out their responsibilities.
Agriculture
FG Calls for Stronger Agricultural Value Chains to Boost Food Security
The Federal Government has called for a stronger agricultural value chains, increased agro-industrialisation and improved market access to boost food security in Nigeria.
The Permanent Secretary, Federal Ministry of Agriculture and Food Security, Dr.
Marcus Ogunbiyi, made the call on Monday in Enugu during the Technical Session of the National Council on Agriculture and Food Security.The theme of the event is “Enhancing Agricultural Value Chains, Agro-Industrialization and Market Access for Economic Growth.”
Ogunbiyi, who doubled as the Chairman of the Technical Session, said that the country must move beyond subsistence farming and embrace a commercially driven agricultural system capable of supporting industries, improving farmers’ incomes and expanding export opportunities.
“Our task goes beyond increasing the volume of food produced.
“We must build an agricultural economy that creates wealth, supports industries, generates decent employment, expands exports, improves rural livelihoods and contributes meaningfully to national economic growth,” he said.
The Permanent Secretary identified inadequate storage and processing facilities, limited access to finance, poor logistics and weak links between farmers and processors as major challenges affecting the competitiveness of agricultural products.
He called for increased investment in agro-processing facilities, rural roads, irrigation, electricity, cold-chain infrastructure and modern technologies to reduce post-harvest losses and promote local value addition.
“Agro-industrialisation is central to the transformation we seek to achieve. It provides the bridge between agriculture and industry.
“It also enables agricultural production to serve as a reliable source of raw materials for manufacturing and other productive sectors of the economy.
“The value of this Council will ultimately be determined by the quality of its resolutions and the extent to which those resolutions are implemented,” Ogunbiyi stated.
He also urged state governments to identify priority commodities, establish clear production and processing targets, attract private-sector investment and strengthen partnerships with research institutions and development partners.
In his remarks, the Enugu State Commissioner for Agriculture and Agro-industrialisation, Patrick Uburu, said that the state government was committed to agro-industrialisation to boost farmers’ income, create jobs and generate wealth.
Uburu, who described the technical sessions as a platform for translating policies into practical solutions, urged delegates to prioritise farmers and agribusiness operators in their deliberations.
He emphasised the need for stronger collaboration among state governments, federal agencies and development partners to address food security challenges, noting that recommendations from the meeting should be measurable and implementable.
The commissioner called for practical policies and investments that would improve farmers’ productivity and expand market access for agricultural produce.
Technical Lead Policy Advisory, GIZ ECOWAS & Nigeria, Dr Abiodun Ihebuzor, advocated for stronger partnerships and increased investment in agricultural value chains to reduce post-harvest losses and improve food security in Nigeria.
Ihebuzor noted that previous engagements at the 46th Council in Calabar and the 47th Council in Kaduna had provided opportunities to advance agricultural development.
He expressed optimism that the current meeting would strengthen collaboration among government institutions, development partners and private-sector operators.
According to him, healthy soils, efficient markets and improved storage systems were essential to sustainable food security.
On her part, Geraldine Onu, Deputy Director, Administration and Supply, Enugu State Ministry of Agriculture and Agro-Industrialisation, disclosed that the State Government had intensified efforts to transform agriculture from subsistence farming to commercial and mechanical farming as part of its economic development agenda.
She noted that investments in irrigation, storage, processing and agricultural infrastructure were aimed at increasing production, attracting private investment, reducing post-harvest losses and improving farmers’ livelihoods.
“In Enugu State, under the visionary leadership of Gov. Peter Mbah, agriculture occupies a strategic position in the state’s economic transformation agenda.
“The initiatives include the 300,000-hectare agricultural land bank, the development of Smart Farm Estates across the 17 Local Government Areas, the 260 Farm Estate Programme and the establishment of a tractor assembly plant,” Onu added.(NAN)


