The National Data Protection Commission (NDPC) has imposed a N555.8 million fine on Fidelity Bank for breaching customer data protection regulations.
Vincent Olatunji, the commission’s National Commissioner, announced the decision at a workshop in Abuja on Wednesday.
Olatunji revealed that the fine, amounting to 0.1% of Fidelity Bank’s 2023 annual gross revenue, is the highest ever issued by the NDPC.
This penalty follows violations of the Nigeria Data Protection Act (NDP Act), 2023, and the Nigeria Data Protection Regulation (NDPR), 2019.
“The penalty reflects both the seriousness of the breaches and the bank’s poor cooperation during the investigation,” Olatunji stated. “Data protection compliance is crucial, and non-compliance will be met with significant penalties.”
The NDPC began investigating Fidelity Bank in April 2023. Olatunji noted that while the commission’s approach generally includes raising awareness and evaluating breach impacts, Fidelity’s failure to cooperate led to the maximum fine. “We have observed serious breaches and attempted to work with the bank. However, their arrogance necessitated the full penalty,” he added.
He said Fidelity Bank must pay the fine within 14 days of receiving the notice.
