Fidelity Bank Fined by NDPC for Data Breaches

The National Data Protection Commission (NDPC) has issued a fine to Fidelity Bank, giving the institution 14 days to pay the penalty. This fine is reported to be the highest ever imposed by the NDPC.

Vincent Olatunji, the National Commissioner, announced the fine during a workshop held in Abuja. He stated that the fine is a result of Fidelity Bank’s violation of the Nigeria Data Protection Act, 2023, among other offenses.

The fine amounts to 0.1% of the bank’s gross revenue for the year 2023. Olatunji highlighted that adherence to data protection regulations is crucial and warned that any failure to do so would lead to substantial penalties.

Olatunji emphasized, «Data protection compliance is important, and we have stated that non-compliance will be punished. We have penalties that range from N10 million up to two percent of gross earnings for the previous year.”

Additionally, he indicated that the bank’s insufficient cooperation during the investigation contributed to the increased penalty. The investigation, which began in April 2023, revealed significant breaches of data protection protocols.

According to Olatunji, the bank’s attitude shifted negatively as the investigation progressed, leading to the decision to impose the full penalty once the findings were concluded.