CBN Data Localisation Deadline Hits Fintechs Harder Than Banks, Industry Body Warns

The managing director of the Society for Affordable Technology in Healthcare has warned that the Central Bank of Nigeria's data localisation policy will impose significantly heavier compliance costs on fintechs than on incumbent banks, which have more established local infrastructure. The assessment adds specificity to the cloud overhaul pressure documented the previous day and surfaces a competitive asymmetry in the compliance burden.