The National Data Protection Commission (NDPC) has imposed a record fine of N555.8 million on Fidelity Bank for violating customer data privacy regulations. The penalty, which is the largest ever levied by the commission, amounts to 0.1% of the bank’s 2023 annual gross revenue.
The NDPC’s National Commissioner, Vincent Olatunji, announced the fine during a workshop in Abuja, stating that the decision followed a thorough investigation that began in April 2023. The bank was found to have breached the Nigeria Data Protection Regulation (NDPR) of 2019 and the Nigeria Data Protection Act of 2023.
According to Olatunji, the severity of the penalty was increased due to the bank’s lack of cooperation and dismissive attitude during the investigation. “We have been working with Fidelity Bank since April to address these issues, but their arrogance led us to impose the full penalty,” he said.
Fidelity Bank has been given 14 days to pay the fine. This decisive action by the NDPC highlights the commission’s commitment to upholding data protection laws and holding organizations accountable for safeguarding the personal information of their customers.
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