By Juliet Jacob Ochenje
The Socio-Economic Rights and Accountability Project (SERAP) has asked the Central Bank of Nigeria to withdraw its order to banks to obtain social media handles from their customers for identification purposes or face legal action.
In a press statement issued on Wednesday, SERAP gave the institution 3 days to comply with its directive or dave legal action.
In the statement, SERAP asked the CBN to “immediately delete the patently unlawful provisions in the Central Bank of Nigeria (Customer Due Diligence) Regulations directing banks to obtain information on customers’ social media handles for the purpose of identification.”
It also urged the CBN executives to “withdraw the Circular number FPR/DIR/PUB/CIR/007/076 of 20 June 2023 mandating banks and other financial institutions to implement and comply with the unlawful mandatory provisions on customers’ social media handles in the CBN Regulations.”
According to Section 6(a)(iv) of the CBN Regulations, banks and other financial institutions “shall identify their customer and obtain information on the social media handle of the customer.” Section 6(b)(iii) contains similar provision.
In the letter dated June 24, 2023 and signed by SERAP’s Deputy Director, Kolawole Oluwadare, the organisation said: “The CBN Regulations and directive to banks to obtain details of customers’ social media address violate Nigerians’ rights to freedom of expression and privacy. It is inconsistent and incompatible with the rule of law.”
It further stated that the additional requirement of obtaining details of a customer’s social media handle or address fails to meet the requirements of legality, necessity and proportionality.”
CBN failed to show how “details of customers’ social media handles or addresses would assist banks and other financial institutions to effectively implement and comply with the laws and regulations relating to customer due diligence,” the read.
