Fed Govt imposes N200m penalty on banks, others for data breach
Several banks and institutions in possession of Nigerians data have been made to pay over N200 million penalty for violating privacy data to the Federal Government
The National Commissioner for the Nigeria Data Protection Commission (NDPC) Dr Vincent Olatunji, made this disclosure on Monday in Abuja.
Addressing journalists at the headquarters of the Commission in Abuja after the signing of the Commission’s Act into law by President Bola Tinubu, Olatunji said the penalties paid “was within a year for infractions committed by the institutions after thorough investigations by the Commission”.
The NDPC National Commissioner, said over 100 private sector institutions including banks were investigated for varying degrees of personal data privacy breaches within the last one year.
Olatunji did not reveal the identities of the banks and other institutions.
Some of data breaches include citizens’ personal data being wrongly captured by banks, and the concerned individuals could not access funds in their bank accounts due to the banks’ infractions.
In other instances, some customers had their money wiped off their bank accounts due to personal data breaches.
Olatunji, also disclosed that a private university and some insurance companies are being investigated for data breaches.
He then ordered that “with the new law, all data Processors and Controllers must have Data Protection Officers (DPOs) in their organisations henceforth”.
The NDPC National Commissioner stated that “compliance with the principal legislation as assented to by President Tinubu would not only boost the nation’s Digital Economy but mainstream the country into global recognition and strengthen its standing in the global digital economy landscape”.
