Why NDPC Fined Fidelity Bank ₦555.8M
The National Data Protection Commission (NDPC) has fined Fidelity Bank with a staggering fine of N555.8 million, marking the largest penalty ever issued by the commission. The hefty fine is a result of the bank’s breaches of both the Nigeria Data Protection Regulation (NDPR) of 2019 and the Nigeria Data Protection (NDP) Act of 2023.
The announcement was made by NDPC’s National Commissioner, Vincent Olatunji, during a Validation Workshop on the Nigeria Data Protection Act General Application and Implementation Directive held on Wednesday, August 21, in Abuja. Olatunji revealed that the fine represents 0.1 percent of Fidelity Bank’s annual gross revenue for 2023.
The decision to impose such a severe penalty follows Fidelity Bank’s failure to adequately address data privacy concerns and its uncooperative stance during the investigation. Olatunji highlighted that the bank’s dismissive attitude worsened the situation, ultimately leading to the imposition of the maximum fine.
“This is the most substantial penalty we have issued since the enforcement of data protection regulations began,” Olatunji declared. “Despite our ongoing efforts to work with Fidelity Bank since April 2023 to resolve these issues, their lack of cooperation and arrogance made this decisive action necessary.”
Under the NDPC’s regulatory framework, penalties for non-compliance with data protection laws can range from N10 million to up to two percent of an organization’s gross earnings. NDPC has given Fidelity Bank a 14-day deadline to settle the fine, emphasising its firm stance on upholding data protection laws and ensuring organizations take customer data security seriously.
