CBN Urged to Widen Oversight of Cloud, Fintech and Tech Risks
Written by Damilola Oladoke on August 24, 2026
The National Information Technology Development Agency has called on the Central Bank of Nigeria to broaden its supervision beyond banks to include risks from cloud providers, telecom networks, fintechs and other technology partners.
Speaking at the 15th Retreat of the CBN Committee of Departmental Directors in Lagos, NITDA Director-General Kashifu Inuwa said traditional regulation is no longer enough as banks increasingly depend on external digital infrastructure.
An outage at a cloud or telecom provider could cascade across the financial system even if the banks themselves remain operational, he warned.
Inuwa urged “end-to-end visibility” of the ecosystem, including third-party dependencies and AI risks, linking financial stability to Nigeria’s digital sovereignty.
The remarks come as the CBN continues reforms under Governor Olayemi Cardoso, including dual connections for payment providers and automated anti-money-laundering systems. NITDA is also rolling out a national cloud registration and certification framework from October.
