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The NDPC accused the bank of violating customer data regulations, resulting in a hefty ₦555.8 million fine.
Pulse Nigeria reported that the commission cited infractions of the Nigeria Data Protection Regulation (NDPR) of 2019 and the Nigeria Data Protection (NDP) Act of 2023, coupled with the bank's alleged lack of cooperation during the investigation.
"We have observed serious breaches and have been working with them, investigating the issue since April 2023. But by the time we finalised our findings, they became arrogant, and we decided to issue a full penalty," the National Commissioner of NDPR, Vincent Olatunji stated.
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In a statement released on Wednesday, August 21, Fidelity Bank's spokesman, Meksley Nwagboh, rejected these claims, asserting that the bank has adhered strictly to all relevant data protection laws.
"As a Bank, we remain in discussions with the NDPC over an amicable resolution to this matter," Nwagboh stated, emphasising that the bank upholds the highest ethical standards in its operations.
Fidelity Bank insists that no data laws were violated that would justify such a penalty and remains committed to resolving the issue through dialogue with the NDPC.
![Julius Abure is the national chairman of the Labour Party. [LP]](data:image/svg+xml;charset=utf8,%3Csvg%20xmlns%3D'http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg'%20width%3D'300'%20height%3D'172'%20data-ring-placeholder%3D'1'%3E%3C%2Fsvg%3E "Julius Abure is the national chairman of the Labour Party. [LP]")