The National Data Protection Commission has fined Fidelity Bank a total sum of N555.8m for infractions relating to breaches of its customers’ data.
The commission’s National Commissioner, Vincent Olatunji, announced this at the Validation Workshop on the Nigeria Data Protection Act General Application and Implementation Directive on Wednesday in Abuja.
He stated that the tier one bank violated the NDP Act, 2023, and the NDPR, 2019 on data breach and was fined the amount being 0.1 per cent of the Bank’s annual gross revenue in 2023.
The CEO said the fine which represents the highest fine to be issued by the commission was aggravated by the bank’s arrogance and poor cooperation during its investigation.
Olatunji said, “Data protection compliance is important and we have stated that non-compliance will be punished. We have penalties that range from N10m or up to two per cent of gross earnings for the previous year.
“But our approach has been creating awareness and…