FG probes financial institutions flouting data protection

The Nigerian government is investigating financial institutions that are not complying with data protection regulations. These institutions have been given 21 days to provide evidence of their compliance with the Nigeria Data Protection Act (NDP Act) of 2023.

The evidence required includes the appointment of a Data Protection Officer, details of data protection measures within the organization, and registration as a Data Controller or Processor. Failure to comply with the Act may result in enforcement actions such as fines or criminal prosecution.

The Nigeria Data Protection Commission (NDPC) aims to protect the fundamental rights and interests of data subjects as guaranteed by the Nigerian Constitution. The NDPC emphasizes the importance of accountability and trust in the country's digital economy.

The investigation is in line with sections 5, 6, 6(c), 46(3), 47(1), and 47(2) of the NDP Act.