National Telescope national telescope newspaper
By Olatunde Oluwasola
Fidelity Bank has strongly refuted allegations of a data breach and contested the N555.8 million fine levied by the Nigerian Data Protection Commission (NDPC).
In a statement released on Wednesday, Meksley Nwagboh, the Divisional Head of Brand and Communications at Fidelity Bank, stated, “We have adhered to the highest ethical standards, ensuring full compliance with current data protection laws.”
The NDPC had accused the bank of breaching data privacy regulations, with National Commissioner Vincent Olatunji remarking that the bank’s perceived arrogance led to the full penalty being imposed.
Fidelity Bank, however, maintained that it had thoroughly investigated the claims of a data breach and found no evidence of misconduct.
The bank clarified that it took immediate action by blocking the disputed account and subsequently closing it when the required documentation was not provided.
According to Fidelity Bank, they received a notice from the NDPC on April 30, 2023, about a complaint filed by an individual who alleged that their personal details were used to open an account without their consent.
The bank conducted an internal investigation and discovered that the account in question had been initiated online, but was never operational due to incomplete documentation.
In line with Fidelity Bank’s Data Protection policy, accounts opened online without full documentation are not activated and are closed after 30 days if the required documents are not submitted to verify the identity of the account holder.
The bank stated that at no point was the account functional, reiterating its stance that no laws were violated.
Despite providing explanations and evidence to the NDPC, Fidelity Bank expressed surprise at receiving a demand for the payment of N555.8 million.
The bank remains firm in its position, asserting that it fully complied with all data protection laws and that the fine is unwarranted.
