Vincent Olatunji, the National Commissioner for the Nigeria Data Protection Commission (NDPC), announced on Tuesday, June 11, that four major banks and three other institutions have been sanctioned and fined a total of 400 million naira for data breaches affecting citizens' information.
Over the past year, the NDPC has investigated more than 1,000 financial institutions, schools, insurance companies, and consultancy firms for similar breaches. Olatunji noted that ongoing investigations are continuing into further data infractions.
The NDPC's efforts have significantly increased compliance with the Nigeria Data Protection Act in both private and public sectors. "When we started, compliance levels within the private sector were about 49 percent, while the public sector was at 4 percent. Today, private sector compliance is above 55 percent, and the public sector has reached 15 percent," Olatunji stated.
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With the nation's data ecosystem now valued at over 10 billion naira, Olatunji emphasized the importance of safeguarding citizens' data in line with global standards. He spoke during an interactive session with journalists at the Abuja Continental Hotel to mark the first anniversary of the signing of the Nigeria Data Protection Commission Act by President Bola Tinubu.
Olatunji highlighted Nigeria's leading role in global data protection, noting that the Data Protection Act 2023 has significantly impacted the national economy, leading to collaboration with countries like Kenya, Ghana, China, Singapore, and Malaysia. Nigeria has also been selected to host the 2024 All African Data Protection Commission and Institutions event, which will see participation from around 30 countries.
To further enhance data protection, the NDPC has plans to train 10,000 public servants in responsible data management and about 1,000 data protection officers and processors, including journalists. The commission's capacity-building efforts, awareness creation, and stakeholder engagement have improved compliance within the ecosystem. The NDPC is now partnering with regulatory institutions like the CBN, NCC, and SMEDAN to ensure adherence to the Data Protection Act.
Olatunji also addressed the issue of digital loan platforms, noting that the NDPC is working with the CBN, ICPC, EFCC, and other regulatory bodies to curb illegal activities. He acknowledged that many illegal digital loan platforms operate from remote areas without traceable addresses, posing challenges to a complete crackdown. However, ongoing awareness campaigns aim to protect vulnerable Nigerians from falling victim to these loan sharks.
