WATCH THE VIDEO HERE THE National Data Protection Commission (NDPC) has levied a substantial fine of N555.8 million on Fidelity Bank for breaching its customers’ data privacy rights. This was revealed by the NDPC’s National Commissioner, Vincent Olatunji, during a Validation Workshop on the Nigeria Data Protection Act General Application and Implementation Directive, held today in Abuja. Fidelity Bank was found to have violated the Nigeria Data Protection Regulation (NDPR) of 2019 and the Nigeria Data Protection (NDP) Act of 2023. The fine, equivalent to 0.1 percent of the bank’s annual gross revenue for 2023, is the largest ever imposed by the NDPC. Olatunji noted that the severity of the penalty was due to the bank’s lack of cooperation and dismissive attitude during the investigation. He stressed the critical importance of compliance with data protection laws, mentioning that penalties for violations can range from N10 million to up to two percent of an organization’s gross earnings. “This is the most significant penalty we’ve issued since we began enforcing data protection regulations,” Olatunji said. “Fidelity Bank’s violations were serious, and despite our efforts to work with them since April 2023, their arrogance led us to impose the full penalty.” The NDPC has given Fidelity Bank 14 days to settle the fine upon receiving the notice. This action highlights the commission’s dedication to enforcing data protection laws and ensuring organizations protect customer data.
Fidelity bank fined N555.8m by NDPC for data breach
