FG probes banks, fintechs over data privacy violation

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The Minister of Communications and Digital Economy, Dr Isa Pantami has urged the Nigerian Data Protection Bureau to investigate banks and data-processing firms on data privacy and protection compliance.

The minister said, “Banks have been sanctioned. Operators in our sector have been sanctioned. Many more operators are being investigated today. So, continue investigating. To ensure that we improve in that level of compliance is very important.”

Pantami also asked Nigerians to report any data breach to the NDPB so that a proper investigation can be done. He said, “Whenever we see any breach of data, let us confidentially draw the attention of the Bureau to go and investigate. By doing that, we will play a significant role.”The minister added, “In addition, if you look at it, the quantity of data that is being generated today, if there is no data privacy compliance in place, definitely it will compromise global security.

“With our situation today, local and international companies are illegally and secretly commercialising citizens’ data without their knowledge. “So, it is because of this, without doubt, that we must ensure that we work together to ensure that whatever they collect about us, they have no power to either commercialise or submit to any place illegally, because if not, definitely our security, our privacy, and everything about us will be open.”

Source: Financial Digest (financialdigest.net)

 

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