Dr Kabir Katata, Deputy Director, Research Department of NDIC, gave the advice in Yola on Wednesday at the 2019 NDIC Workshop for Business Editors and Finance Correspondents Association of Nigeria .
Katata said that concealing customers’ data and information was necessary to ensure financial system integrity.“You cannot play with a customer’s data because you have it. Banks need to understand that they have responsibility to protect customers’ data.“The age and time where a bank will say that your data or record is ours, it is not true. The data does not belong to you, it belongs to the customer.
“He or she has to give you express permission to share it and you cannot disclose the financial status of a person without permission.Katata advised fintech operators and banks to invest heavily to support new partnerships and “train your staff to effectively meet best practices.”
Source: Insurance Report (insurancereport.net)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
NYSC: Corps members get fresh warning - Daily Post NigeriaBrig. Gen. Shuaibu Ibrahim, Director-General, National Youth Service Corps (NYSC), has warned corps members against unnecessary journeys, “especially at
Source: DailyPostNGR - 🏆 11. / 59 Read more »
Champions League: Mourinho issues strong warning to Tottenham players ahead of Bayern tie - Daily Post NigeriaTottenham Hotspur manager, Jose Mourinho, has “forbidden” his players, from watching their Bayern Munich horror show. The Bundesliga champions thrashed
Source: DailyPostNGR - 🏆 11. / 59 Read more »
Kano Emirate tussle: Controversy as court issue fresh orders against Ganduje - Daily Post NigeriaA High Court in Kano State presided over by Justice A. T. Badamasi, has given an interim order restraining the state governor from “taking away the There is no good news from Nigeria except Court, arrest, re-arresst, e.t.c....common Nigeria
Source: DailyPostNGR - 🏆 11. / 59 Read more »
Khashoggi murder: US slams sanction against top Saudi official - Daily Post NigeriaThe United States on Tuesday barred Mohammed al Otaibi from entering the country. He served as the Saudi consul general in Istanbul when Saudi journalist
Source: DailyPostNGR - 🏆 11. / 59 Read more »
Wole Soyinka maintains his stand against hate speech bill, reveals why - Daily Post NigeriaNobel Laureate, Prof. Wole Soyinka has disclosed why he opposed the hate speech Bill proposed by Senator Aliyu Sabi Abdullahi. Soyinka explained that he
Source: DailyPostNGR - 🏆 11. / 59 Read more »
Police caution officers, men against sporadic shooting - Daily Post NigeriaThe Anambra State Police Command has cautioned orderlies attached to VIPs to avoid sporadic shooting in the name of celebrating Christmas. The command
Source: DailyPostNGR - 🏆 11. / 59 Read more »