Fidelity Bank faces ₦555.8 million fine for data breach violation

The Fidelity Bank At Lekki

Nigeria Data Protection Commission (NDPC) has imposed a fine of ₦555.8 million on Fidelity Bank - one of the popular commercial financial institution in Nigeria. The fine represents 0.1% of the bank's 2023 revenue and according to report by the NDPC on Wednesday, 21 August 2024, the fine must be paid within 14 days.

The investigation into Fidelity Bank started in April 2023 after a customer alleged that the bank used their personal information to open an account without consent. The Nigeria Data Protection Commission (NDPC) found that the bank processed personal data without informed consent in critical cases.

The NDPC also accused the Bank that it used third-party data processors who did not comply with the 2023 Nigeria Data Protection Act when handling customers' data. According to report, Fidelity Bank has yet to respond to requests for comments.

The regulator stated that it initially requested Fidelity Bank to pay a remedial fee in December 2023, but the bank ignored repeated warnings and failed to provide a satisfactory remedial plan. The commission emphasized that it had given the bank multiple opportunities to ensure compliance. Additionally, in July 2024, WhatsApp was fined $200 million by Nigeria’s FCCPC and NDPC after a three-year investigation into the company's privacy policy.

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With five years experience in Media, Temmy Samuel's become a modern journalist, delivering impressive reporting about tech, finance, business and science around the world. More About Temmy

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