The federal government, through it’s agency, Nigeria Data Protection Commission (NDPC) has slammed fines amounting to N400 million on four banks and three other companies for infractions related to breaches of citizens’ data.
This was disclosed by the national commissioner of NDPC, Vincent Olatunji, while presenting a scorecard of the one-year implementation of the NDPC Act.
The act, which is expected to protect citizens’ private information, was signed into law by President Bola Tinubu on June 14, 2023.
The commissioner noted that over the past year, more than 1000 financial institutions, schools, insurance companies, and consultancy firms have undergone investigations for breaches of citizens’ data.
He also said there were ongoing investigations concerning data infractions.
Olatunji said: “When we started, the levels of compliance within the private sector was about 49 percent while the public sector was 4 percent. But today, private sector compliance is above 55, while the public sector has reached 15 percent.”
