Get Guardian on GoogleThe Association of Corporate Treasurers of Nigeria (ACTN) has warned that the implementation of Nigeria’s 2027 data localisation and cybersecurity requirements could disrupt business operations if regulators fail to provide practical timelines and address infrastructure readiness.
The association urged the Federal Government and relevant regulatory agencies to consider the cost and availability of local digital infrastructure before enforcing the requirements, stressing that data sovereignty and cybersecurity objectives must not undermine business continuity and the smooth flow of commerce.
President and Chairman of Council of ACTN, Adeyinka Ogunnubi, gave the warning at a press conference in Lagos ahead of the 2026 Treasury360 Conference, Exhibition and Corporate Treasury Awards.
Ogunnubi said the Central Bank of Nigeria (CBN) and the National Information Technology Development Agency (NITDA) had introduced data localisation requirements mandating that payment transaction data generated in Nigeria be stored and managed within the country from January 2027.
He also highlighted the National Sovereign Cloud Initiative by NITDA and the Cyber Resilience Framework for the Nigerian Communications Sector, led by the Nigerian Communications Commission (NCC), with obligations scheduled to take effect on February 23, 2027.
He said the measures would have significant implications for financial institutions and businesses whose payment platforms, banking systems and treasury operations depended on digital networks.
“Our payments, our banking platforms and our treasury systems all run on these networks, so their resilience is our resilience,” he said.
The ACTN president called for sustained investment in digital infrastructure, cybersecurity and financial system resilience, noting that organisations required reliable, secure and accessible systems to support increasingly interconnected financial services.
He warned that without adequate infrastructure and effective coordination among regulators, businesses could face difficulties complying with the new requirements without affecting their operations.
Ogunnubi also called for clear, consistent and predictable government policies, arguing that timely communication and meaningful engagement with stakeholders would enable businesses to plan for regulatory changes and manage the associated costs.
Beyond the emerging digital compliance requirements, he said Nigeria needed to deepen its financial markets and expand access to financing and risk-management instruments to enable businesses to manage exposures and invest with greater confidence.
On the changing demands of corporate treasury management, Ogunnubi said organisations increasingly required professionals capable of anticipating emerging risks, analysing different business scenarios and providing insights to guide strategic decisions.
He said the theme of the 2026 conference, “The Intelligent Treasury: Evolving from Reactive to Proactive Foresight Through AI, Automation and Predictive Decision-Making,” reflected the growing importance of technology in financial management.
According to him, AI could help treasury teams analyse information and identify patterns, while automation would reduce repetitive manual processes and predictive tools would support better assessment of potential business outcomes.
He, however, cautioned that technology adoption must be backed by accurate data, effective internal controls, robust cybersecurity, skilled personnel and clear accountability.
“A system can assist a decision; leadership remains responsible for understanding and taking that decision,” he said.
Ogunnubi also identified the Nigerian Overnight Financing Rate (NOFR), introduced by the CBN in collaboration with the Financial Markets Dealers Association and formally launched in June, as an important development in the country’s financial markets.
He said the benchmark, derived from actual overnight secured transactions, would provide a common reference for loan pricing, financial documentation, hedging and risk management.
