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The Central Bank of Nigeria (CBN) and the National Information Technology Development Agency (NITDA) have intensified their appeal to banks, fintech firms and payment service providers to store critical payment transaction data within the country before the January 1, 2027 compliance deadline.

Regulators said the requirement is essential for protecting Nigeria’s digital sovereignty, improving oversight of the financial system, safeguarding sensitive customer information and building greater resilience as digital payments and cloud services expand rapidly across the economy.

The renewed push came during the CBN-NITDA Executive Regulatory Dialogue on the National Sovereign Cloud Initiative and data localisation, held in Lagos on Wednesday.

In his keynote address, CBN Deputy Governor for Financial System Stability Lamido Yuguda described data as a strategic national asset. As financial services increasingly depend on digital payments, mobile money, fintech platforms and online banking, the location and security of transaction data have become critical.

While cloud computing offers efficiency, scalability and innovation, Yuguda cautioned that it also introduces risks around cybersecurity, operational resilience, third-party dependence and regulatory visibility.

He insisted that critical payment data must be stored and managed inside Nigeria by the January 2027 deadline. Local storage alone, he stressed, is not enough; institutions must maintain strong cybersecurity, business continuity, disaster recovery and risk-management frameworks.

Banks remain fully accountable for risks arising from their use of cloud providers and other technology partners.

The CBN said it would keep working with NITDA and other agencies to ensure financial-sector rules align with national digital infrastructure standards.

Officials made clear that data localisation is not intended to stifle innovation or cut Nigeria off from global technology. Instead, it seeks to create the security and regulatory certainty needed to attract investment and support sustainable growth.

Hajiya Rakiya Shuaibu Mohammed, Director of the Information Technology Department at the CBN, told participants that the apex bank was working closely with industry players to achieve full compliance.

A recent CBN survey showed that more than half of the institutions that responded were already prepared to meet the localisation directive. The remaining firms, she noted, still needed clearer guidance and practical support to close the gaps.

‘Our ultimate expectation is that by January 2027, everyone will be on board to have payment data localised,’ Mohammed said. She explained that the policy would give regulators better visibility over transactions and strengthen the stability of the financial system. The dialogue, she added, was designed to address industry concerns, clarify expectations and identify the real obstacles facing banks, fintech companies and infrastructure providers.

Mohammed emphasised that the CBN preferred engagement and technical support over immediate sanctions for institutions making genuine efforts. However, she warned that deliberate attempts to undermine the policy or outright non-compliance would attract penalties. Feedback from stakeholders would be reviewed carefully, and justified adjustments would be considered on their merits.

She also revealed that a large share of the CBN’s own data is already hosted in Nigeria, while work continues to bring remaining secondary data onshore. In 2025, the bank further tightened supervision of the payments sector by creating the Payment Systems Supervision Department.

NITDA Director-General Kashifu Inuwa stressed that Nigeria’s growing reliance on digital infrastructure has turned control of critical technology and data into a national priority.

The National Sovereign Cloud Initiative, he said, aims to build domestic capacity so that essential digital services can continue even if external disruptions affect global technology providers.

The programme aligns with the Federal Government’s broader digital transformation agenda and the need to strengthen local technological capabilities.

As the deadline draws closer, regulators urged industry players to use platforms such as the Lagos dialogue to resolve outstanding questions on infrastructure readiness, implementation challenges, cybersecurity standards and the dangers of over-dependence on single technology vendors.

The Minority Leader of the House of Representatives, Hon. Fred Agbedi, during Thursday’s plenary faulted the legislative procedure adopted by the Deputy Speaker, Hon. Benjamin Kalu, following the decision to step down a motion seeking a one-year tuition fee waiver for students in federal tertiary institutions.

The development sparked a row on the floor of the House after Hon. Agbedi, citing Order 8, Rule 1, on the arrangement of business, accused the presiding officer of departing from the established rules of the legislature.

The Minority Leader expressed concern that the Deputy Speaker had called on the House Leader to address issues relating to the motion after it had already been stepped down, arguing that the matter was no longer properly before the House for debate.

He said: ‘We have passed personal explanation, we have passed orders of the day, and Mr. Speaker, you stepped down a motion that was brought by Honourable Satomi, and then, you called on the Leader of the House to intervene on a matter that is not within the order.’

Hon. Agbedi further argued that the proposed tuition fee waiver conflicted with the existing Nigerian Education Loan Fund (NELFUND) legislation, which already provides a statutory framework for financing students’ tertiary education.

According to him, ‘You cannot bring a motion to amend the NELFUND law. It is not as to how many people have benefited or have not benefited. Because for you to say that the Federal Government should pay school fees for all Nigerians, when you have NELFUND, an Act of this House, that has already prescribed how it should be done, would be bringing a motion to amend a law that was passed and assented by Mr. President.’

Hon. Agbedi maintained that inviting the House Leader to speak on the matter after the motion had been withdrawn was inconsistent with parliamentary practice.

He said: ‘And so, for you to beckon like the leader of the House to discuss on this matter that was not before the House was an aberration. It has no place in our rulebook, Mr. Speaker.’

However, Hon. Kalu overruled the Minority Leader, declaring: ‘You are ruled out of order. You are ruled out of order.’

Earlier, when called upon to lead the debate on the motion, the sponsor, Hon. Ahmed Satomi, informed the House that he had consulted with the House Leader, who addressed several concerns raised in the proposal, prompting his decision to step it down.

Following the withdrawal, Hon. Kalu invited the Majority Leader, Hon. Julius Ihonvbere, to brief lawmakers on the milestones recorded by NELFUND since the commencement of its operations.

In his briefing, Hon. Ihonvbere disclosed that the fund had disbursed a total of N372.6 billion to students and tertiary institutions as of September 29, 2026.

He explained that N192.9 billion had been paid directly to tertiary institutions to cover tuition fees, while N79.7 billion had been disbursed directly to students as monthly upkeep allowances.

The Majority Leader further revealed that NELFUND had received more than 2.3 million applications, with 319 institutions covered under the scheme and approximately 1.659 million students benefiting from the programme nationwide.

He urged lawmakers to sensitise their constituents to the initiative and encourage eligible students to apply, stressing that the application process is conducted entirely online without the need for personal connections or visits to government offices.

According to the text of the motion listed on the Order Paper, Hon. Satomi had highlighted the economic difficulties confronting Nigerian households following the Federal Government’s economic reforms, including the removal of the petrol subsidy and foreign exchange adjustments.

The lawmaker noted that escalating costs of food, transportation, accommodation, electricity, and other basic needs have compounded the financial strain on parents and guardians struggling to meet their children’s educational expenses.

He warned that students across universities, polytechnics, and colleges of education face growing risks of dropping out, deferring their academic programmes, or suffering prolonged financial distress due to inability to pay tuition and other mandatory institutional charges.

He added that financial barriers to higher education could exacerbate youth unemployment, socioeconomic inequality, and broader social instability.

While describing education as an indispensable driver of national development, poverty alleviation, and social mobility, the motion had proposed a temporary, targeted, and adequately funded intervention to cushion students against economic headwinds.

It had specifically prayed the House to urge the Federal Government to introduce a one-year emergency tuition fee waiver for eligible students in federal tertiary institutions, while urging federal and state authorities to ensure that any relief scheme remains time-bound, periodically reviewed, and implemented without undermining the quality and sustainability of higher education.

The Nigeria Customs Service (NCS) is set to host the Comptroller-General of Customs (CGC) Conference from December 7 to 8 and the Customs Partnership for African Cooperation in Trade (C-PACT) 2026 Conference from December 9 to 11 in Abuja, as part of its commitment to strengthening border security, facilitating legitimate trade and advancing regional economic integration.

The conference, themed: ‘Securing Borders, Enabling Trade: A Customs Commitment to Safer Communities,’ will provide a platform to review the service’s modernisation efforts, assess progress against previous commitments, and reinforce the relationship between effective Customs administration, national security, and trade facilitation.

C-PACT 2026, themed ‘One Border, Interconnected Systems: Advancing Customs Cooperation through One-Stop Border Posts,’ will extend the discussions to the continental level, focusing on practical approaches to coordinated border management and digital connectivity across Africa.

The conference will bring together relevant government officials, Customs leadership, trade stakeholders and institutional partners to examine the Service’s progress in implementing modernisation and trade facilitation reforms.

The event will examine intelligence-led enforcement, emerging border threats, inter-agency collaboration, and officers’ professional responsibilities in protecting communities and maintaining public trust.

A major component of the conference will be the examination of how digital transformation and stakeholder partnerships are improving Customs operations.

Discussions will give stakeholders, including AEO beneficiaries, the National Single Window Secretariat, Presidential Enabling Business Environment Council (PEBEC), excise-sector representatives, and other relevant institutions, an opportunity to assess reform outcomes and identify areas for further improvement.

Building on the national conference, C-PACT 2026 will provide a continental platform for Customs administrations, policymakers, the African Continental Free Trade Area (AfCFTA) Secretariat, Regional Economic Communities, border management agencies, development partners, technology providers and private-sector stakeholders to advance cooperation in African trade. The conference will address persistent challenges affecting cross-border trade, including fragmented procedures, duplicated controls, limited information exchange, incompatible digital systems, and insufficient coordination among border agencies.

It will explore how One-Stop Border Posts (OSBPs), supported by interconnected Customs platforms, coordinated risk management, harmonised procedures and secure information exchange, can reduce delays, lower trade costs, and improve the predictability of goods movement across African trade corridors.

Oyo State Governor Seyi Makinde has pledged fair and transparent regulation of the gaming industry, urging operators to comply with licensing, tax and other statutory requirements to promote sustainable growth and protect the public.

Makinde said economic expansion in the sector must be matched with responsible business practices, effective oversight and adequate safeguards for players.

The governor stated this on Thursday while delivering the keynote address at the seventh Annual Stakeholders’ Interactive Forum organised by the Oyo State Gaming and Lottery Board at Jogor Centre, Ibadan.

Represented by the Secretary to the State Government, Professor Musibau Babatunde, Makinde commended the board for providing a platform for government officials, regulators, operators and other stakeholders to discuss challenges and opportunities in the industry.

He said technological innovations, particularly online gaming platforms and mobile applications, had transformed the sector, creating opportunities for investment and employment while increasing the need for effective regulation and consumer protection.

‘Our position as a government is clear. Economic growth must be encouraged, businesses must be allowed to thrive within the law, and the interests of the public must remain protected. These objectives are essential to building an industry that is productive, responsible, and sustainable,’ the governor said.

Makinde described the Oyo State Gaming and Lottery Board as a critical institution for maintaining stability in the sector through effective oversight, enforcement of licensing requirements and action against illegal operators.

He, however, stressed that regulation should not become a hindrance to legitimate businesses, insisting that it must be fair, transparent and consistent.

‘The objective of government is not to create obstacles for legitimate businesses but to promote orderly growth and accountability within the industry,’ he said.

The governor urged the board to strengthen its regulatory capacity, improve engagement with operators and deploy modern technology to enhance monitoring and compliance.

He also called on gaming operators to regard compliance as an essential part of responsible business, urging them to maintain valid licences, fulfil their tax and levy obligations, keep accurate records and meet all regulatory requirements.

Makinde warned that illegal operations and non-compliance could undermine confidence in the industry, weaken regulatory oversight, promote unfair competition and deprive the government of revenue.

He further emphasised the need for responsible gaming practices, including measures to protect vulnerable persons and prevent underage participation.

According to him, the growing use of digital platforms must be accompanied by safeguards against cybersecurity threats, consumer exploitation and weaknesses in transaction monitoring.

The governor added that improved compliance and accurate reporting would reduce revenue leakages, promote transparency and strengthen the sector’s contribution to Oyo State’s economic development.

In his welcome address, the Director-General of the Oyo State Gaming and Lottery Board, Hon. Olajide Boladuro, said the forum reflected stakeholders’ collective commitment to developing a responsible, transparent and sustainable gaming industry.

Boladuro commended Makinde for supporting good governance, institutional accountability and the responsible development of the gaming and lottery sector.

He noted that, although the industry offered opportunities for investment, job creation and revenue generation, its full potential could only be realised through compliance, public protection and measures that inspire confidence.

The forum featured panel discussions on ‘Over-Regulation or Revenue Trapping: Incentivising Industry Growth,’ ‘Corporate Social Responsibility in the Gaming Industry,’ and ‘The State of iGaming Regulation in Nigeria: Stalemate or Progress.’

Those in attendance included the Chief of Staff to the Governor, Bashorun Akinwale Akinwole; the Senior Special Assistant to the Governor on ICT and E-Governance, Mr Bayo Akande; government officials; gaming operators; representatives of gaming regulatory agencies; and other industry stakeholders.

Lagos State Chairman of the All Progressives Congress (APC), Cornelius Oyefolu Ojelabi, has described the outcome of the 2023 general elections in the state as a wake-up call, vowing that the party will stage a stronger comeback in 2027.

Ojelabi expressed confidence that the ruling party would defeat opposition figures, including Peter Obi and Atiku Abubakar, through intensified grassroots mobilisation and sustained engagement with voters.

He spoke at the launch of the Iyaloja General Movement for Renewed Hope, where he said the APC was determined to consolidate its achievements and secure the re-election of President Bola Tinubu.

According to him, the party is leaving nothing to chance despite being the ruling party, as it continues to mobilise support across states and local government areas.

‘You can see the seriousness the All Progressives Congress attaches to the forthcoming general election. Most of the political activities taking place now are centred on the APC,’ he said.

Ojelabi noted that the emergence of several support groups and their activities across the country reflected the party’s determination to retain power in 2027.

He said the APC was reaching out to voters to explain the achievements of the Tinubu administration and the Lagos State government, expressing confidence that the electorate would reward the party at the polls.

The Lagos APC chairman said the party had learnt important lessons from the 2023 elections, when its dominance in the state faced a significant challenge.

Lagos, traditionally a stronghold of the APC and its predecessors, witnessed a competitive presidential election in 2023, with the Labour Party’s Peter Obi winning the state.

Describing the experience as a wake-up call, Ojelabi said the party was prepared to demonstrate its strength in the forthcoming elections.

‘What happened during the 2023 election, to me, is a wake-up call. And you will see the wonders that we are going to perform come 16th of January and 6th of February, by the grace of God,’ he said.

He urged Lagos residents to assess the performance of the APC-led government and reciprocate its efforts through their votes.

Ojelabi also dismissed concerns about the proposed Rainbow Coalition and whether the APC would require its support to win the 2027 presidential election.

He maintained that the priority of the party and other political actors should be to ensure Tinubu’s re-election, irrespective of the coalition arrangements being considered.

‘Whether coalition or no coalition, everybody is speaking one language. The language of making sure that President Bola Ahmed Tinubu returns to Aso Rock,’ he said.

The APC chairman added that the party would continue to strengthen its support base and mobilise voters ahead of the general elections.