Collaboration, Infrastructure and Trust as Drivers of Digital Growth – FCMB

First City Monument Bank (FCMB) Chief Technology Officer, Roseline Ilori, emphasized the significance of collaboration among financial institutions, technology firms, regulators, and infrastructure providers during the GrowthX by Techeconomy 2026 conference in Lagos. Ilori made this statement while speaking at the "Data Localisation, Security & Future of Payments in Nigeria" panel session.

She stressed that data localisation presents both opportunities and responsibilities for Nigeria's digital ecosystem, beyond merely complying with regulatory requirements. Ilori noted that to fully benefit from data localisation, Nigeria needs to build robust digital infrastructure, enhance cybersecurity, and develop the necessary talent pool.

The discussion at the panel focused on the implications of the Central Bank of Nigeria's data localisation directive for banks, fintechs, and payment service providers. The panelists examined how this directive could affect data sovereignty, digital identity, cybersecurity, consumer protection, infrastructure investment, and operational costs.

Peter Oluka, Founder and Editor-in-Chief of Techeconomy and Convener of GrowthX, highlighted the purpose of the conference, which was to facilitate meaningful conversations and collaboration among stakeholders shaping Africa's digital future. Oluka stated that GrowthX was designed to address practical issues affecting those who build, regulate, fund, and use digital services in Nigeria, rather than merely discussing technology.

For FCMB, participating in GrowthX reaffirms the bank's commitment to promoting conversations on technology, innovation, digital transformation, and the future of financial services. Additionally, it allows FCMB to contribute industry perspectives to the development of a more secure, inclusive, and resilient digital economy in Nigeria.