In a recent interview on Channels Television, Dr Vincent Olatunji, the National Commissioner of Nigeria Data Protection Bureau (NDPB), expressed his belief that the Central Bank of Nigeria’s (CBN) request for customers’ social media handles is unnecessary. This follows the CBN’s latest Due Diligence Regulations 2023 report, which mandates banks to obtain customers’ social media handles.
Olatunji emphasized that the recently enacted Data Protection Act, signed by President Bola Ahmed Tinubu on June 14, is meant to safeguard the privacy rights of all Nigerians. He stated that the primary purpose of this law is to protect the rights, freedom, and interests of Nigerian citizens who are data subjects.
The NDPB has written a letter to the CBN expressing concerns over the new regulation, specifically regarding the collection of social media handles for identification purposes. Olatunji believes that the collection of citizens’ social media handles is unnecessary, unless it is done in the public interest and adheres to certain guidelines. He emphasizes the importance of informing bank customers about the purpose of data collection and ensuring compliance with global best practices.
The NDPB intends to engage with the CBN to understand the rationale behind these regulations and communicate the potential implications of the law. Olatunji stressed the notion that data collection should strictly adhere to the principle of collecting only the necessary data, in line with global best practices. The NDPB aims to hold the CBN accountable for adhering to these standards.
With the signing of the Data Protection Act, Nigeria now has a legal framework in place to protect individuals’ personal data. The act is expected to provide a robust foundation for data protection, ensuring that individuals’ personal information remains secure.
