The apex bank disclosed this in its circular dated June 15, 2026, titled, “Introduction of Market Structure Requirements, Data Localisation, Ultimate Beneficial Ownership Disclosure, and Systemic Oversight Measures in the Nigeria Payments System.”

CBN mandates local data storage for payment transactions and unveils new ownership disclosure rules to enhance transparency in Nigeria’s digital payments industry.

The apex bank said the new measure aims to promote transparency, reduce market concentration risks, and enhance the resilience of the country's payments ecosystem.