The National Data Protection Commission (NDPC) has levied a record fine of N555.8 million against Fidelity Bank for breaching customer data privacy regulations.
Announced by NDPC National Commissioner Vincent Olatunji during a Validation Workshop on the Nigeria Data Protection Act in Abuja, this fine is the largest ever imposed by the commission. It represents 0.1 percent of Fidelity Bank’s annual gross revenue for 2023.
The penalty was imposed for violations of both the Nigeria Data Protection Regulation (NDPR) 2019 and the Nigeria Data Protection (NDP) Act 2023.
Olatunji explained that the severity of the fine was compounded by the bank’s lack of cooperation and dismissive attitude during the investigation.
“This is the most significant penalty we have issued since enforcing data protection regulations,” Olatunji said.
“Despite our efforts since April 2023 to resolve these issues, Fidelity Bank’s continued non-compliance and arrogance forced us to impose the maximum fine.”
Fidelity Bank has been given 14 days to settle the fine.
This action reaffirms the NDPC’s dedication to enforcing data protection laws and ensuring that organizations are held accountable for protecting customer information.
