The Nigeria Data Protection Bureau (NDPB) says it has written to the Central Bank of Nigeria (CBN) over it’s recent directive to deposit money banks to demand customers social media handles as part of know your customer procedure.
National Commissioner of the Bureau, Dr Vincent Olatunji, stated this in a television interview monitored by our correspondent.
He said they wrote to the banking regulator because in data protection and privacy issues, there are some basic principles to follow when you want to collect citizens’ data.
“One, there is what is called data minimisation. That is, you don’t collect data more than for the purpose for which you want to use it. There is a limit to the level of data you must collect.
“Two, purpose limitation: what purpose? Why do you actually need somebody’s data? In this case, it is for financial transactions. The issue of asking for their social media is not really necessary.”
The national commissioner pointed out that if the CBN wants to use such data under public interest as a regulator to monitor financial transactions, there are guidelines to follow, one of which includes informing the customers and stating the purpose.
“You don’t collect data more than what you need, so there is no point in collecting such data. So, we will definitely take them up on it and work with them and look at the best solution out of it.”
Olatunji, however, said in an ideal situation, such a demand was not even necessary and that is why the agency is engaging the CBN.
