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Fidelity Bank has denied allegations made by the Nigerian Data Protection Commission (NDPC) that it breached data protection laws, leading to a fine of ₦555.8 million. The NDPC accused the bank of violating the Nigeria Data Protection Regulation (NDPR) of 2019 and the Nigeria Data Protection (NDP) Act of 2023, and criticized its cooperation during the investigation.
Key Points:
- Bank’s Response: Fidelity Bank’s spokesperson, Meksley Nwagboh, has rejected the NDPC’s claims, stating that the bank has adhered to all relevant data protection laws and is engaged in ongoing discussions with the NDPC to resolve the matter amicably.
- NDPC’s Stance: The National Commissioner of NDPR, Vincent Olatunji, accused the bank of serious breaches and lack of cooperation, which led to the imposition of the penalty. Olatunji noted that the investigation began in April 2023 and concluded with the decision to issue the full penalty due to the bank’s perceived arrogance.
- Commitment to Resolution: Fidelity Bank remains committed to addressing the issue through dialogue and upholding high ethical standards in its operations.
The situation underscores ongoing tensions between financial institutions and regulatory bodies over data protection compliance.