The National Data Protection Commission (NDPC) has imposed a N555.8 million fine on Fidelity Bank for violating its customers’ data privacy.
National Data Protection CommissionVincent Olatunji, the national commissioner of NDPC, spoke on Wednesday during a validation workshop on the Nigeria Data Protection Act general application and implementation directive.
He said the fine, which amounts to 0.1 percent of the bank’s annual gross revenue for 2023, is the largest ever issued by the commission.Olatunji said the penalty was aggravated due to the bank’s lack of cooperation and dismissive attitude during the investigation. “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 NDPC boss said the penalties for noncompliance could range from N10 million to up to 2 percent of an organisation’s gross earnings.
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