OADC: CBN’s Directive on Data Localisation Will Attract Foreign Investments

The CEO of Open Access Data Centres, Ayotunde Coker, has stated that the Central Bank of Nigeria's directive on data localisation will attract foreign direct investment. The directive requires financial institutions to host data locally by January 1, 2027. Coker noted that this move will compel foreign cloud providers to invest in Nigeria or partner with local providers to retain Nigerian customers.

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