The Nigeria Data Protection Bureau has opened an investigation into allegations of data breach by two Nigeria banks – Guaranty Trsut (GT) Bank and Zenith Bank.
According to the Bureau, the investigations launched into the two banks were triggered by allegations of “unlawful disclosure of banking records to a third party and unlawful access and processing of personal data.”
National Commissioner/ Chief Executive Officer, NDPB, Dr. Vincent Olatunji, who ordered the investigation, directed that that should cover the data governance practice of the banks in all their branches in Nigeria and extend to all third parties carrying out data processing activities.
He noted with great concern that many data privacy and protection regulations and best practices are hardly implemented down the organisational strata of major data controllers in Nigeria.
Head, Legal Enforcement and Regulation, NDPB, Babatunde Bamigboye, in a statement said that the bureau similarly enjoined organisations to heed the federal government circulars and general compliance notice directing them to send the names of their Data Protection Officers/Contacts to the bureau.
According to the agency, “there are reports by Nigeria Inter Bank Settlement System (NIBSS) which indicated that within 9 months of 2020, fraudsters attempted 46,126 attacks and they were successful on 41,979 occasions representing 91% of the time!
“This level of vulnerability to data breach is unacceptable and it can only be addressed through foolproof data security and data privacy measures by data controllers/data processors in the industry. The National Commissioner enjoins all financial institution to emulate the example of the Central Bank of Nigeria in compliance with the Nigeria Data Protection Regulation (NDPR) 2019 and in creating a robust data governance system.
“The National Privacy Week is an opportunity for all organisations to set their records straight on how they handle the data of citizens. Enforcement measures will be taken against wilful violators of privacy rights forthwith.”
