The Nigeria Data Protection Commission (NDPC) has revealed that more than 1,000 financial institutions, schools, insurance companies, and consultancy firms are currently undergoing investigations for various degrees of breaches of citizens’ data.
This was disclosed by the NDPC’s National Commissioner, Vincent Olatunji, during an interactive session with journalists to mark the first anniversary of President Bola Tinubu’s signing into law of the Nigeria Data Protection Commission Act in Abuja.
Olatunji revealed that four major banks and three other institutions have faced sanctions and incurred fines totalling N400m for infractions related to breaches of citizens’ data.
He emphasized that the nation’s data ecosystem has surpassed a value of 10 billion naira and that the Commission is committed to safeguarding citizens’ data in accordance with global best standards and practices.
The NDPC was established to advance privacy rights and other fundamental freedoms both in cyberspace and in analogue transactions which allows Nigerians to seek redress from any data breach and stipulates that citizens’ data is “processed in a fair, lawful and accountable manner.”
Olatunji highlighted that the Commission has received over 1,000 reports of data breaches since its inception, with about 400 of them being digital revenue companies. He noted that the main areas of investigation include the education sector, financial institutions, real estate, insurance, consulting, and schools.
The National Commissioner also emphasized that ongoing investigations are being conducted concerning data infractions. He added that the NDPC’s activities have led to increased compliance with the Nigeria Data Protection Act in both the private and public sectors.
When the Commission started, the levels of compliance within the private sector were about 49 per cent, while the public sector was 4 per cent. However, today, private sector compliance is above 55, while the public sector has reached 15 per cent.
