The announcement was made by the National Commissioner of the NDPC, Vincent Olatunji, during a Validation Workshop on the Nigeria Data Protection Act General Application and Implementation Directive held on Wednesday in Abuja.
Fidelity Bank was found to have violated the Nigeria Data Protection Regulation (NDPR) of 2019 and the Nigeria Data Protection (NDP) Act of 2023. The fine, amounting to 0.1 percent of the bank’s annual gross revenue for 2023, is the largest penalty ever imposed by the NDPC.
Olatunji explained that the penalty was heightened due to the bank’s lack of cooperation and dismissive attitude during the investigation.
He stressed the critical importance of data protection compliance, noting that penalties for non-compliance can range from N10 million to up to two percent of an organization’s gross earnings.
“This is the most significant penalty we’ve issued since we began enforcing data protection regulations,” Olatunji said.
“Fidelity Bank’s violations were severe, and despite our efforts since April 2023 to help them address these issues, their arrogance led to the full penalty being imposed.”
The NDPC has given Fidelity Bank 14 days to pay the fine after receiving the notice.
This action highlights the commission’s dedication to enforcing data protection laws and holding organizations accountable for protecting customer data.
