Nigerian fintechs and banks struggle to maintain compliance across overlapping, conflicting data residency regulations

Nigerian financial institutions face a critical compliance nightmare where CBN (Central Bank of Nigeria) and NITDA (National Information Technology Development Agency) impose overlapping and sometimes contradictory data localization rules. Companies must navigate multiple regulatory frameworks simultaneously, creating operational bottlenecks, increased legal risk, and expensive compliance infrastructure investments. Current solutions fail because they address single regulators, not the intersection of competing mandates.