The Nigeria Data Protection Commission (NDPC) has mandated that banks, telecom companies, insurance firms, and other data-controlling organizations apply for data protection compliance monitoring by December 2023.
According to Dr. Vincent Olatunji, the National Commissioner of NDPC, this directive aligns with the Nigeria Data Protection Act, which requires registration within six months of the commission’s establishment.
Dr. Olatunji emphasized the significance of securing Nigerian data and assured that the new Nigeria Data Protection Act 2023 is well-equipped for the task.
Organizations such as banks and telecom operators must register with the NDPC for data protection compliance monitoring to ensure effective monitoring of data safety.
The NDPC has also engaged with the Central Bank of Nigeria (CBN), a significant data controller, and revealed that the CBN has already applied for data protection compliance monitoring.
The collaboration between the NDPC and the CBN focuses on addressing data regulation challenges and improving data protection protocols, including social media know-your-customer (KYC) procedures.
NDPC Investigates Nine Organizations for Data Breach
Since its regulatory duties began in June, the NDPC has investigated data breaches in various sectors and imposed fines on three major banks.
The commission is currently investigating nine other organizations, including those in the education, banking, insurance, and telecommunications industries, to ensure a thorough investigation of data abuses.
The rise in data breaches in Nigeria is a growing concern, with 83,000 cases reported in the first quarter of 2023, a 64% increase from the previous quarter.
The establishment of the NDPC is a crucial step in addressing data protection issues in the country. While the commission’s activities are promising, its impact on data protection and control remains to be seen, as it refrains from publicly naming offending organizations and determining appropriate penalties.
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