The Central Bank of Nigeria has dropped what might be its most consequential regulatory package for the digital payments sector in years. In a circular dated June 15, 2026, signed by Director of Payments System Supervision Dr. Rakiya Yusuf, the CBN rolled out a three-pronged overhaul: mandatory data localisation (all payment transaction data must be stored in Nigeria by January 1, 2027), compulsory disclosure of Ultimate Beneficial Ownership (UBO) for all licensed...