According to Mr. Olatunji, the commission has been investigating Fidelity Bank since April 2023. The maximum penalty was enforced due to the bank’s dismissive attitude and lack of cooperation during the investigation.
Abuja – Fidelity Bank has been sanctioned with a fine of N555.8 million by the National Data Protection Commission (NDPC) for violating data protection laws and compromising the privacy of its customers’ personal information.
This is the largest penalty ever imposed by the commission.
The fine, which amounts to 0.1 percent of the bank’s total gross revenue for 2023, was announced by Mr. Vincent Olatunji, the National Commissioner of NDPC, during a Validation Workshop for the General Application and Implementation Directive of the Nigeria Data Protection Act in Abuja on Wednesday.
The penalty was issued on Tuesday, and the bank has been given 14 days to settle the amount.
According to Mr. Olatunji, the commission has been investigating Fidelity Bank since April 2023. The maximum penalty was enforced due to the bank’s dismissive attitude and lack of cooperation during the investigation.
“The bank breached both the Nigeria Data Protection Regulation (NDPR) of 2019 and the Nigeria Data Protection Act (NDP) of 2023,” Olatunji said. “Our approach is to raise awareness and educate organizations about their responsibilities. However, when breaches occur, we assess the severity, impact, and the organization’s level of cooperation before determining the penalty. Fidelity Bank’s lack of cooperation led us to impose the full penalty.”
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