The National Data Protection Commission (NDPC) has hit Fidelity Bank with a substantial fine of N555.8 million for breaching customer data privacy. This decision was revealed by NDPC’s National Commissioner, Vincent Olatunji, during a workshop on the Nigeria Data Protection Act and its implementation in Abuja on Wednesday.
Fidelity Bank was found in violation of both the Nigeria Data Protection Regulation (NDPR) of 2019 and the Nigeria Data Protection Act (NDP) of 2023. This hefty fine, representing 0.1% of the bank’s annual gross revenue for 2023, marks the largest penalty ever issued by the NDPC.
Olatunji explained that the severity of the fine was exacerbated by the bank’s lack of cooperation and dismissive attitude throughout the investigation. He stressed the critical importance of adhering to data protection regulations, noting that penalties for non-compliance can range from N10 million to up to 2% of an organization’s gross revenue.
“This is the most significant penalty we’ve ever imposed,” Olatunji said. “Fidelity Bank’s violations were severe, and despite our efforts to work with them since April 2023, their lack of responsiveness led us to issue the maximum fine.”
The NDPC has given Fidelity Bank 14 days to settle the fine once they receive the notice. This action highlights the commission’s dedication to enforcing data protection laws and ensuring that organizations uphold their responsibilities in safeguarding customer information.
