Vincent Olatunji, the National Commissioner of the Nigeria Data Protection Commission (NDPC), announced on Wednesday that Fidelity Bank has been fined for violating the Nigeria Data Protection Regulation (NDPR) of 2019 and the Nigeria Data Protection Act (NDPA) of 2023.
The announcement was made during a validation workshop on the general application and implementation directive of the NDPA.
Olatunji revealed that the fine, which amounts to 0.1 percent of Fidelity Bank’s annual gross revenue for 2023, is the largest ever issued by the commission.
He emphasized that the penalty was aggravated by the bank’s lack of cooperation and dismissive attitude throughout the investigation process.
“Since we began enforcing data protection regulations, this is the most significant penalty we have issued,” Olatunji stated.
“Fidelity Bank’s violations were serious, and despite working with them since April 2023 to address these issues, their arrogance ultimately led us to impose the full penalty.”
The NDPC boss further explained that penalties for noncompliance with data protection regulations can range from N10 million to up to 2 percent of an organisation’s gross earnings. In the case of Fidelity Bank, the commission has given a 14-day ultimatum to pay the fine upon receiving the notice.
“This action underscores the commission’s commitment to enforcing data protection laws and holding organisations accountable for safeguarding customer data,” Olatunji added.
This fine follows a previous announcement by the NDPC on June 14, where four banks and three other companies were sanctioned and fined a total of N400 million for breaches of citizens’ data.
The NDPC’s recent actions highlight its ongoing efforts to ensure that organisations comply with data protection regulations, thereby safeguarding the personal information of Nigerian citizens.