The National Data Protection Commission (NDPC) has imposed N555.8 million fine on Fidelity Bank Plc for violating customers’ data privacy,
NDPC’s National Commissioner, Vincent Olatunji, said, at a Validation Workshop on the Nigeria Data Protection Act General Application and Implementation Directive, that Fidelity Bank breached the Nigeria Data Protection Regulation (NDPR) of 2019 and the Nigeria Data Protection (NDP) Act of 2023.
The fine, which amounts to 0.1 percent of the bank’s annual gross revenue for 2023, is the largest ever issued by the NDPC.
Olatunji explained that the penalty was aggravated due to the bank’s lack of cooperation and dismissive attitude during the investigation. He emphasized the importance of data protection compliance, noting that penalties for non-compliance can range from N10 million to up to two percent of an organization’s gross earnings.
“Since we began enforcing data protection regulations, this is the most significant penalty we’ve issued.
“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 Commission gave Fidelity Bank 14 days to pay the fine upon receiving the notice, saying that the sanction underscored its commitment to enforcing data protection laws and holding organizations accountable for safeguarding customer data.
