The Nigeria Data Protection Commission (NDPC) has revealed that it has established a joint committee with the Central Bank of Nigeria (CBN) to reevaluate the regulation mandating financial institutions to collect customers’ social media handles and other personal data. Dr. Vincent Olatunji, the National Commissioner of the NDPC, shared this information during a two-day workshop on Data Privacy and Protection in Abuja.
In June of the same year, the CBN introduced new customer due diligence regulations, requiring financial institutions to collect customers’ social media handles, email addresses, telephone numbers, residential addresses, and more. The aim was to enhance the identification process within the banking system.
However, the NDPC opposed this regulation, deeming it unnecessary. Dr. Olatunji stated, “When there was an issue with CBN asking for CBN handles, we actually went to the CBN and we set up a joint committee to see the best way to resolve this. We told them that was not necessary and they agreed with us.”
Furthermore, Dr. Olatunji emphasized the importance of sensitizing stakeholders on the Nigeria Data Protection Act and building the capacity of Data Protection Officers (DPOs) and Nigerians. He noted that the country needs over 500,000 certified DPOs due to a lack of skills in this area.
During the workshop, Dr. Bosun Tijani, the Minister of Communications, Innovation, and Digital Economy, reaffirmed the Federal Government’s commitment to safeguarding digital platforms to instill confidence in citizens while online. He stressed that data privacy is a fundamental human right and crucial for the nation’s digitalization journey, emphasizing the need for personal and sensitive information to be kept confidential as Nigeria embraces the digital age.