Galaxy Backbone intensifies efforts to attract financial institutions after CBN data localization directive
via Punch Nigeria3 min read
Nigeria's Federal Government-owned Galaxy Backbone is actively engaging banks, fintechs, and other financial institutions to utilize its digital infrastructure services. This initiative follows a recent directive from the Central Bank of Nigeria CBN mandating that all payment transaction data generated within the country must be stored on local servers. Galaxy Backbone hosted chief information officers and technology stakeholders at a webinar focused on digital trust, regulatory compliance, and infrastructure resilience in the financial sector. Ibrahim Sani, Galaxy Backbone's Executive Director, Finance, highlighted the need for trusted digital infrastructure to support secure financial services, emphasizing the organization's role in providing secure connectivity, cloud, and data center services. Olumbe Akinkugbe, Executive Director, Digital Exploration and Technical Services, stressed the importance of complying with CBN directives to enhance transparency, accountability, consumer confidence, and data security. Thomas Oghenebhumhe, Head of Automation and Integration, showcased Galaxy Backbone's sovereign cloud capabilities, while Samuel Olusola Oyeleke, Head of Data Centre Operations, detailed their globally certified Tier III and Tier IV data center infrastructure. Olusegun Olulade, Executive Director, Customer Centricity and Marketing, underscored the necessity of collaboration among regulators, technology providers, and financial institutions to strengthen digital trust.
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This summary was AI-generated from a story originally published by Punch Nigeria.
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