FG begins probe of financial institutions flouting data protection law – Daily Trust

FG begins probe of financial institutions flouting data protection law – Daily Trust


The Federal Government has begun probes of banks, insurance companies, pension companies, gaming companies and insurance brokers flouting the Nigeria Data Protection Act (NDP Act), 2023.

The organisations under probe have been required to, within 21 days, provide the evidence of filing NDP Act Compliance Audit Returns for 2024, evidence of designation or appointment of a Data Protection Officer, including name and contact details and summary of technical and organisational measures for data protection within the organisation.

They were also required to provide evidence of registration as a Data Controller or Processor of Major Importance.

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This was disclosed on Monday via a statement issued by the Nigeria Data Protection Commission (NDPC) and signed by its Head of Legal, Enforcement and Regulations, Babatunde Bamigboye.

” The NDPC, in furtherance of its mandate under the Nigeria Data Protection Act (NDP Act), 2023, has commenced a sector-by-sector investigation of organisations suspected of non-compliance with the provisions of the Act”, the statement said.

Daily Trust reports that the NDP Act, 2023 seeks to safeguard the fundamental rights, freedoms, and interests of data subjects as guaranteed under the Constitution of the Federal Republic of Nigeria, 1999.

It also seems to strengthen the legal foundations of Nigeria’s digital economy while ensuring the nation’s trusted and beneficial participation in regional and global economies through responsible use of personal data.

The commission said in the statement that in line with Sections 5(i), 6(a), 6(c), 46(3), and 47(1)-(2) of the NDP Act, it has issued Compliance Notices to certain organisations listed in the schedule of its notice.

The list of organisations, according to NDCP, were drawn from insurance companies, pension companies, gaming companies, banks, and insurance brokers.

“The Commission reiterates that failure to comply with this Compliance Notice may result in enforcement actions, including the issuance of an Enforcement Order, administrative fines, and/or criminal prosecution in accordance with the NDP Act, 2023.

The NDPC remains committed to ensuring a culture of accountability and trust in Nigeria’s data protection and privacy ecosystem, while safeguarding the rights of data subjects and strengthening the nation’s digital economy,” Bamigboye said.





Source: Dailytrust

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