The National Data Protection Commission (NDPC) has imposed a substantial fine of N555.8 million on Fidelity Bank for violations of its customers’ data privacy, marking the largest penalty ever issued by the commission.
This decision was announced by the NDPC’s National Commissioner, Vincent Olatunji, during a Validation Workshop on the Nigeria Data Protection Act General Application and Implementation Directive, held on Wednesday in Abuja.
Fidelity Bank was found guilty of breaching the Nigeria Data Protection Regulation (NDPR) of 2019 and the Nigeria Data Protection (NDP) Act of 2023. The imposed fine, which represents 0.1 percent of the bank’s annual gross revenue for 2023, reflects the severity of the violations.
According to Olatunji, the penalty was heightened due to the bank’s lack of cooperation and dismissive attitude throughout the investigation process.
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“Since we began enforcing data protection regulations, this is the most significant penalty we’ve issued,” Olatunji stated.
“Fidelity Bank’s violations were serious, and despite working with them since April 2023 to address these issues, their arrogance ultimately led us to impose the full penalty.”
He further emphasized the importance of compliance with data protection laws, noting that penalties for non-compliance can range from N10 million to up to two percent of an organization’s gross earnings.
The NDPC has given Fidelity Bank 14 days to pay the fine upon receiving the notice, underscoring the commission’s dedication to enforcing data protection laws and holding organizations accountable for protecting customer data.
In response, a spokesman for Fidelity Bank, Meksley Nwagboh, issued a statement on Wednesday denying any wrongdoing.
“No data law was violated to warrant the imposition of a N555.8 million fine by the commission,” Nwagboh asserted, challenging the NDPC’s findings.
