New CBN Rule: Banks, Fintechs Will Benefit From Data Localisation, Lower Forex Dependence – Telcos

Leadership | 21-06-2026 09:55am |

The Association of Licensed Telecommunications Operators of Nigeria (ALTON) has thrown its weight behind the Central Bank of Nigeria’s (CBN) directive mandating banks, fintech firms and other payment service providers to host payment transaction data within Nigeria, describing the policy as a major step towards reducing foreign exchange exposure and strengthening the country’s digital economy.

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