Speaking at a validation meeting in Abuja, Honorable Commissioner of NDPC, Vincent Olatunji, disclosed that the bank breached the Nigeria Data Protection Act, 2023, and the Nigeria Data Protection Regulation, 2019, leading to the fine, which represents 0.1% of the bank’s annual gross revenue for 2023.

Olatunji emphasized the importance of Data Protection compliance, warning that non-compliance would be met with severe penalties, ranging from 10 million naira to 2% of an organization’s annual gross revenue.

The commissioner noted that the workshop, which validates the General Application and Implementation Directive (GAID) for the Nigerian Data Protection Act, aims to provide a guide to avoid ambiguities and ensure that everyone understands their obligations under the law.

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