The Nigeria Data Protection Commission (NDPC) says the federal government has fined Fidelity Bank Plc. N555.8 million for data breaches.
The National Commissioner of NDPC, Vincent Olatunji, said this at the Nigeria Data Protection (NDP) Act General Application and Implementation Directive (GAID) validation workshop in Abuja.
Mr Olatunji recalled that President Bola Tinubu signed the NDP Act into law on 12 June 2023, thereby empowering the commission to enforce compliance of data protection on organisations by way of fines and other means.
He said that the commission commenced an investigation into Fidelity Bank in April 2023 and, upon conclusion, found that it defaulted.
“The penalty is huge if you don’t comply; penalties can range from N10 million to even up to two per cent of the organisation’s annual gross income for the previous year.
“Most of the breaches we have treated, we look at the level of the breach, the impact, the number of data subjects…