The National Data Protection Commission (NDPC) has imposed a record ₦555.8 million fine on Fidelity Bank for violating customer data protection laws. The National Commissioner, Vincent Olatunji, announced the fine at a workshop in Abuja, noting that it represents 0.1% of the bank’s annual gross revenue for 2023.
This penalty, the largest ever issued by the NDPC, was a result of the bank’s breach of the Nigeria Data Protection Act, 2023, and the Nigeria Data Protection Regulation, 2019. Olatunji emphasized the importance of data protection compliance, warning that non-compliance would lead to severe penalties.
The bank’s poor cooperation during the investigation, which began in April 2023, aggravated the penalty. Fidelity Bank has been given 14 days to pay the fine.