The Nigeria Data Protection Commission (NDPC) has said it is probing three banks, a university and others over alleged data breach.
National commissioner of NDPC Vincent Olatunji made this known in a statement on Thursday by the commission’s spokesman Itunu Dosekun.
The commission listed Zenith, Fidelity, Guarantee Trust Banks, Babcock University and Leadway Insurance, among others for the probe.
Olatunji said the investigation came following complaints from data subjects.
He explained that with the new Nigerian Data Protection Act (NDPA), the commission has been empowered with a legal framework to address issues on citizens’ data breaches.
“In the last few weeks, the NDPC has received complaints bothering on unlawful data processing, unauthorised access to personal data and violation of data subjects’ rights.
“Under Part 10 of the newly signed NDPA 2023, a data controller with a turnover of N200 billion yearly may pay as high as N2 billion, which represents two per cent of the gross revenue.
“Not only that, offenders also risk up to one-year jail term. We are currently investigating Guaranty Trust Bank, Fidelity, Unity, Zenith banks, Leadway Insurance and Babcock University, among others, for data breach,” Olatunji said.
According to him, many microfinance banks were yet to align their operations with the requirements of data privacy and protection.
He further revealed that loaning organisations would face the law with the new mandate of the Federal Competition and Consumer Protection Commission.
Olatunji said the mandate required loan organisations to seek compliance and clearance from NDPC before granting approval to online lenders.
“The commission is investigating over 400 complaints in the online lending sector.
“Soko Loan is already working on a comeback to the digital lending market, but yet to be approved,” said the commissioner.
