The National Data Protection Commission (NDPC) has imposed a fine of N555.8 million on Fidelity Bank for violating its customers’ data privacy.
This was disclosed on Wednesday by the NDPC’s National Commissioner, Vincent Olatunji, during a Validation Workshop on the Nigeria Data Protection Act General Application and Implementation Directive held in Abuja.
Olatunji explained that the bank failed to cooperate during the investigation which aggravated the penalty.
He emphasized the importance of data protection compliance, noting that penalties for non-compliance could range from N10 million to up to two% of an organization’s gross earnings.
The NDPC gave Fidelity Bank 14 days to pay the fine upon receiving the notice.
Fidelity Bank was found to have breached the Nigeria Data Protection Regulation (NDPR) of 2019 and the Nigeria Data Protection (NDP) Act of 2023.
The fine, which amounts to 0.1 percent of the bank’s annual gross revenue for 2023, is the largest ever issued by the NDPC.