Fidelity Bank Disputes Data Breach Allegations by Nigerian Data Protection Commission
Fidelity Bank has denied allegations of data breach by the Nigerian Data Protection Commission (NDPC), saying it did not violate any data law to warrant a fine of N555.8 million.
The NDPC had accused the bank of breaching the Nigeria Data Protection Regulation (NDPR) of 2019 and the Nigeria Data Protection (NDP) Act of 2023, and imposed the fine on the financial institution.
However, Fidelity Bank claims it conducted itself to the highest ethical standards by ensuring full compliance with extant laws on data protection. The bank’s spokesman, Meksley Nwagboh, said in a statement that the bank remains in discussions with the NDPC over an amicable resolution to the matter.
According to Fidelity Bank, the alleged data breach was related to an account opening request received online in the name of an individual, who claimed that their details were used to open an account without their consent. The bank conducted an internal investigation and discovered that the account was not operational, as the necessary documents were not provided to authenticate the identity of the account holder.
The bank said it immediately blocked the account and subsequently closed it when the outstanding documents were not received. Fidelity Bank also provided evidence to support its claim, including a breakdown of its dealings with the NDPC.
The bank received a notice of investigation from the NDPC on April 30, 2023, and responded on May 2, 2023, stating that no data law was violated and that the account opening process was not completed. Despite this, the NDPC informed the bank that it had reached a conclusion to impose a penalty on the bank.
Fidelity Bank received two letters from the NDPC, demanding payment of N250 million and later N555.8 million, respectively. The bank is currently engaged in discussions with the NDPC to resolve the matter amicably.
