Galaxy Backbone (GBB) has intensified its engagement with banks, fintech
firms, and other financial institutions as the Central Bank of Nigeria (CBN)
moves to enforce the local storage of payment transaction data.
The digital infrastructure and shared services provider, in a statement yesterday,
brought together Chief Information Officers, fintech leaders, and technology
stakeholders at its second-quarter webinar to discuss digital trust, regulatory
compliance, and resilient infrastructure for the financial sector.
The webinar followed the CBN’s directive to banks, fintech companies, mobile
money operators and other payment service providers to store payment
transaction data generated in Nigeria on local servers to strengthen regulatory
oversight, improve transparency and ensure critical financial data remains
within the country.
The company highlighted its comprehensive digital infrastructure, saying,
“Galaxy Backbone’s value proposition is further strengthened by its Uptime
certified Data Centres, Payment Card Industry Data Security Standard (PCI
DSS) certification, sovereign cloud platform and nationwide fibre
infrastructure.’
“Together, these capabilities provide banks, fintechs and payment service
providers with trusted platforms for secure data hosting, payment security,
regulatory compliance, business continuity and disaster recovery.
“They also support the growing need for data sovereignty by ensuring that
critical financial data is securely hosted, readily accessible and remains within
Nigeria’s jurisdiction in line with regulatory expectations,” it added.
Opening the webinar, Executive Director, Finance, Ibrahim Sani, said Nigeria’s
financial sector was evolving rapidly, making trusted digital infrastructure
essential for secure and reliable financial services.
He noted that GBB already provides secure connectivity, cloud and data centre
services to several public and private sector institutions, including financial
organisations.
GBB’s Head of Automation and Integration, Thomas Oghenebhumhe, also
highlighted the role of the company’s sovereign cloud in helping financial
institutions improve efficiency, protect sensitive information and meet
regulatory requirements.
Head of Data Centre Operations, Samuel Olusola Oyeleke, said Galaxy
Backbone’s globally certified Tier III and Tier IV data centres provide the
resilience, reliability and high availability needed to support uninterrupted
digital services, disaster recovery and business continuity for critical financial
operations.