22 Financial Institutions Yet to Begin Data Localisation, NITDA Survey Finds

A NITDA survey of 44 Nigerian financial institutions found that 22 have yet to begin implementing data localisation requirements ahead of the January 1, 2027 deadline. Twenty-six institutions, or 59%, had completed the required steps or expected to finish on time, while 15 were unlikely to meet the deadline and three could not assess their readiness. Institutions had made more progress identifying covered data than securing budgets, hiring local providers or migrating systems. Presented at a Lagos dialogue convened by NITDA and the Central Bank of Nigeria, the self-reported findings point to uncertainty over the rules as a major obstacle to preparation.