Galaxy Backbone (GBB), an internet service provider, has urged financial institutions, fintech companies, and technological stakeholders to invest in robust digital infrastructure to boost trust and compliance within Nigeria’s financial sector.
The appeal was made during a second-quarter webinar in Abuja, titled “Building Digital Trust in Nigeria’s Financial Sector: Navigating Regulatory Compliance and Infrastructure Performance.”
Ibrahim Sani, GBB’s executive director of finance, emphasised that Nigeria’s financial sector is undergoing rapid transformation, necessitating significant investment. He pointed out that a reliable, trusted digital infrastructure is crucial to delivering secure, forward-looking financial services.
The webinar brought together industry participants to address the growing demand for secure and resilient digital infrastructure in the financial sub-sector. Sani noted that financial institutions must adapt to changing regulatory requirements and the rising trend of digital adoption.
This discussion coincided with the Central Bank of Nigeria’s (CBN) recent directive mandating that banks, fintech companies, mobile money operators, and other payment service providers store transaction data generated within Nigeria on local servers. The CBN aims to enhance regulatory oversight, improve transparency, mitigate concentration risks, and ensure that critical payment data remains within Nigeria’s jurisdiction.
Sani assured that GBB is committed to providing the digital backbone necessary for both public and private sector institutions, particularly financial organisations that depend on its secure connectivity, cloud, and data centre services. He highlighted GBB’s readiness to assist the financial sector in meeting regulatory compliance through resilient infrastructure designed to adapt to changing business and regulatory needs.
Olumbe Akinkugbe, GBB’s executive director of digital exploration and technical services, emphasised the significance of regulatory compliance for safeguarding Nigeria’s financial ecosystem. He noted that adherence to CBN directives and other regulatory frameworks is vital for promoting transparency, accountability, consumer confidence, and the security of financial data in an increasingly digital landscape.
Thomas Oghenebhumhe, GBB’s head of automation and integration, demonstrated the organisation’s sovereign cloud capabilities. He underscored the importance of secure cloud adoption, stating that it enhances financial institutions’ ability to innovate quickly, improve operational efficiency, protect sensitive data, and maintain regulatory compliance.
Samuel Oyeleke, GBB’s head of data centre operations, highlighted the organisation’s globally certified Tier III and Tier IV data centres. He explained that these facilities provide the resilience, high availability, and reliability essential for uninterrupted digital services, disaster recovery, and business continuity in critical financial operations.
Finally, Olusegun Olulade, GBB’s executive director of customer-centricity and marketing, stressed that building digital trust necessitates ongoing collaboration among regulators, technology providers, and financial institutions. He called on organisations to invest in infrastructure that not only complies with regulatory standards but also ensures resilience, security, business continuity, and customer trust. Olulade reaffirmed GBB’s dedication to providing the financial services industry with secure, resilient, and globally aligned digital infrastructure.
