The Nigeria Data Protection Commission (NDPC) has imposed a fine of N555,800,000 on Fidelity Bank Plc for violating data protection regulations. This significant penalty, announced by the National Commissioner of NDPC, Dr. Vincent Olatunji, underscores the Federal Government’s commitment to enforcing data protection standards across the country.
Speaking at the Nigeria Data Protection (NDP) Act General Application and Implementation Directive (GAID) validation workshop in Abuja, Olatunji highlighted that the penalty was a direct result of a thorough investigation into Fidelity Bank’s operations, which began in April 2023. “Since we started, the only time we issued a major penalty was yesterday on Fidelity Bank; a fine of N555,800,000 after we observed some breaches,” Olatunji revealed, noting that the fine represents 0.1 per cent of the bank’s gross earnings for 2023.
The NDPC, empowered by the NDP Act signed into law by President Bola Tinubu on June 12, 2023, now has the authority to enforce compliance through fines and other measures. Olatunji explained, “The penalty is huge if you don’t comply; penalties can range from N10 million to even up to two per cent of the organisation’s annual gross income for the previous year.” He also emphasized that penalties are determined by the severity of the breach, the impact on data subjects, and the level of cooperation from the offending organization.
The Commissioner further elaborated on the NDPC’s collaborative approach, stating, “We want to ensure everyone is involved in what we are doing… it is just an extension of the law.” The Commission is actively engaging stakeholders and has licensed about 194 professionals to guide organizations in complying with the new data protection standards.
Olatunji concluded by calling for continued dialogue and cooperation, stressing that “collaborative efforts will foster a data ecosystem that respects privacy and protects personal data subjects.”
