Fidelity Bank faces N555.8 million fine from NDPC for data breach

The National Data Protection Commission (NDPC) has imposed a record fine of N555.8 million on Fidelity Bank for violating customer data protection laws.

Announced by NDPC National Commissioner Vincent Olatunji during a validation workshop on the Nigerian Data Protection Act in Abuja, the fine is the largest ever imposed by the commission, representing 0.1 percent of Fidelity Bank’s annual gross revenue for 2023.

The penalty was imposed for violating both the Nigeria Data Protection Regulation (NDPR) 2019 and the Nigeria Data Protection (NDP) Bill 2023.

Olatunji explained that the severity of the penalty was compounded by the bank’s lack of cooperation and its dismissive attitude during the investigation.

“This is the most serious fine we have imposed since the introduction of data protection laws,” Olatunji said.

“Despite our efforts since April 2023 to address these issues, Fidelity Bank’s continued non-compliance and arrogance have forced us to impose the maximum fine.”

Fidelity Bank has 14 days to pay the fine.

This action reaffirms NDPC’s commitment to enforcing data protection laws and ensuring organisations are accountable for protecting customer information.