By Jessica Dogo
The Nigeria’s internet provider, Galaxy Backbone (GBB), has urged banks, fintech companies and other tech stakeholders to invest in resilient digital infrastructure to strengthen trust and compliance in Nigeria’s financial sector.
The GBB said this on Monday in Abuja during its second-quarter webinar themed: “Building Digital Trust in Nigeria’s Financial Sector: Navigating Regulatory Compliance and Infrastructure Performance.”
Speaking at the webinar, the Executive Director, Finance at GBB, Ibrahim Sani, said Nigeria’s financial sector was undergoing rapid transformation that required massive investment.
This, he said, made trusted digital infrastructure essential for delivering secure, reliable and future-ready financial services.
The News Agency of Nigeria (NAN) reports that the webinar brought together industry stakeholders to discuss the growing need for secure and resilient digital infrastructure in the financial sub-sector.
Sani said there was the need for such financial institutions to adapt to evolving regulatory requirements and increasing digital adoption.
The event came amid the Central Bank of Nigeria’s (CBN) directive requiring banks, fintech companies, mobile money operators and other payment service providers to store payment transaction data generated within Nigeria on local servers.
According to the apex bank, the policy is designed to strengthen regulatory oversight, improve transparency, reduce concentration risks and ensure that critical payment data remains within Nigeria’s jurisdiction.
Sani said GBB would continue to provide the digital backbone supporting public and private sector institutions, including financial organisations, that rely on its secure connectivity, cloud and data centre services.
He said the organisation was well positioned to support the financial industry’s regulatory compliance efforts by providing resilient infrastructure that met evolving business and regulatory requirements.
Earlier,Mr Olumbe Akinkugbe, GBB Executive Director, Digital Exploration and Technical Services, underscored the importance of regulatory compliance in safeguarding Nigeria’s financial ecosystem.
According to him, adherence to CBN directives and other regulatory frameworks is critical to promoting transparency, accountability, consumer confidence and the security of financial data in an increasingly digital economy.
The Head, Automation and Integration, GBB, Thomas Oghenebhumhe, demonstrated the organisation’s sovereign cloud capabilities, highlighting the role of secure cloud adoption in strengthening the financial sector.
He said resilient cloud infrastructure enabled financial institutions to innovate faster, improve operational efficiency, protect sensitive information and maintain compliance with regulatory standards.
Also speaking, GBB’s Head of Data Centre Operations, Samuel Oyeleke, underscored the organisation’s globally certified Tier III and Tier IV data centre infrastructure.
Oyeleke said the facilities provide the resilience, high availability and reliability required to support uninterrupted digital services, disaster recovery and business continuity for mission-critical financial operations.
The Executive Director, Customer Centricity and Marketing, GBB, Olusegun Olulade, said building digital trust, collaboration was required among stakeholders, regulators, technology providers and financial institutions.
He urged organisations to invest in infrastructure that not only complied with regulatory requirements but also guarantees resilience, security, business continuity and customer confidence.
Olulade reaffirmed GBB’s commitment to supporting the financial services industry with secure, resilient and globally aligned digital infrastructure. (NAN) (www.nannews.ng)
Edited by Cecilia Odey/Uche Anunne