In a landmark decision, the National Data Protection Commission (NDPC) has fined Fidelity Bank ₦555.8 million for multiple breaches of customer data, marking the largest fine ever imposed by the commission.
This penalty, announced by National Commissioner Vincent Olatunji during the Validation Workshop on the Nigeria Data Protection Act General Application and Implementation Directive in Abuja on Wednesday, is a result of violations of the Nigeria Data Protection Act, 2023, and the Nigeria Data Protection Regulation (NDPR) of 2019.
The fine represents 0.1% of Fidelity Bank’s annual gross revenue for 2023. The severity of the fine was heightened by the bank’s lack of cooperation and perceived arrogance during the NDPC’s investigation. Olatunji emphasized that this substantial penalty underscores the importance of data protection in Nigeria’s rapidly evolving digital landscape.
He stated, “Data protection compliance is critical, and non-compliance will be met with significant penalties. While our approach has primarily focused on awareness and compliance, serious breaches will be penalized accordingly. Fidelity Bank’s fine reflects the gravity of their data breaches and lack of cooperation.”
The NDPC began investigating Fidelity Bank in April 2023, and despite initial cooperation, the bank’s attitude later in the investigation led to the imposition of the maximum penalty. The fine must be paid within 14 days of receiving the official notice.
