Cloudvantage Ltd. on Wednesday launched a local cloud platform to help financial institutions store and manage payment transaction data generated in Nigeria ahead of the Central Bank of Nigeria’s (CBN) Jan. 1, 2027, compliance deadline.
The Managing Director of Cloudvantage, Mr Muhideen Ashiru, disclosed this at the launch in Lagos.
Ashiru said the platform, developed in partnership with Rack Centre, would help banks, fintech companies and other businesses meet regulatory requirements.
He said it would enable organisations to store sensitive data and run critical applications in Nigeria, reducing reliance on foreign cloud infrastructure.
Ashiru said a second cloud region would be established in Abuja in November to provide additional backup and improve service resilience.
According to him, the Lagos facility offers a 99.9 per cent service availability guarantee, alongside automated systems for data replication, backup and recovery.
“The CBN’s new rule is a major step towards taking control of Nigeria’s digital future.
“Businesses need reliable domestic infrastructure to meet data localisation requirements without disrupting their operations,” he said.
Ashiru said Cloudvantage had deployed automated migration tools to help organisations transfer records and applications from foreign cloud providers to local infrastructure with minimal downtime.
He added that automated workload management and backup systems would reduce human error and protect business records during technical disruptions.
Ashiru said the company had opened early setup and data transfer windows for commercial banks, fintech institutions and government agencies ahead of the deadline.
Mr Kelechukwu Nsofor, Head of Business Development at Digital Realty, urged organisations using foreign cloud providers to engage local service providers and develop clear migration plans.
“This is the perfect opportunity for organisations using foreign hyperscalers to look inward and share their pain points with Nigerian providers,” Nsofor said.
He said Nigeria had the infrastructure required to support the CBN’s data localisation policy and urged businesses to begin preparations for compliance.
Cloudvantage is Nigeria’s first indigenous cloud automation and Infrastructure-as-a-Service (IaaS) platform.
The CBN has mandated that payment and financial transaction data generated in Nigeria be stored, processed and managed locally by Jan. 1, 2027.
