NDPC Generates ₦400 Million from Data Protection Fines in One Year

The Nigeria Data Protection Commission (NDPC), says it has generated N400 million Naira from sanctions against companies and institutions that committed data protection infringement within the past year. National Commissioner of NDPC, Dr Vincent Olatunji, disclosed this amid a media chat with Journalists, celebrating the one-year commemoration of the enactment of the Nigeria Data Protection Act, 2023 (NDP Act), in Abuja on Tuesday.
Olatunji said that four major banks and three other institutions faced fines totaling the amount generated, including that the Commission got almost 1,000 reports of data breaches in the same year.
The NDPC, who criticized the low level of reports on data privacy violations in Nigeria, noted that mindfulness is still a major challenge in the country. He included that more investigations on data privacy infractions were progressing.
Olatunji further stated that the NDPC activities through the Nigeria Information Security Act have altogether raised compliance levels in both open and private sectors, with the nation’s data ecosystem presently valued at over 10 billion naira.

According to the NDPC boss, “When we started, the level of compliance within the private sector was about 49 percent while the public sector was 4 percent. But today, private sector compliance is above 55, while the public sector has reached 15 percent.”
“The Data Protection Act 2023 is a major milestone for Nigeria. Mr President laid our apprehension to rest when he signed the Act on June 12, 2023.”
“It was a major turnaround for the industry. Now the data ecosystem is beyond everybody because it is a global phenomenon due to the impact of technology.”
“In terms of jobs and wealth creation, promotion of tourism, perception, and attraction of foreign direct investments into Nigeria, we have taken a leapfrog and even overtaken some countries.”

“And that’s why Nigeria was given the hosting right for 2024 All African Data Protection Commission’s and Institutions. About 30 countries will be here next year for the event,” Olatunji said.
He mentioned that the Commission has concluded plans to train 10,000 public servants in responsible data management. Furthermore, around 1,000 data protection officers and processors, including journalists, are set to experience preparation encouraged by the NDPC.
In response to the exercises of digital loan platforms, Olatunji specified that the Commission has been working with the Central Bank of Nigeria (CBN), and anti-graft agencies to combat the menace. He communicated concern over the need for identifiable addresses for many illicit digital loan platforms.
While recognizing the challenges posed by Nigeria’s populace size and tremendous geography in combating digital loan abuse, Olatunji stressed the significance of continuous mindfulness efforts to secure vulnerable Nigerians from falling victim to predatory practices.