President of the Association of Corporate Affairs Managers of Banks in Nigeria (ACAMB), Rasheed Bolarinwa, advocated for a stronger working relationship between the Nigerian Data Protection Commission (NDPC) and players in Nigeria’s banking and financial sector.
During a working visit to the NDPC in Abuja, president of ACAMB, Rasheed Bolarinwa emphasised the importance of minimising regulatory risks by fostering a clear understanding of the NDPC’s mandate within the financial sector.
He stressed that reducing data protection infractions and ensuring compliance, can only be achieved through stronger communication and advocacy efforts.
He urged the Data Protection Commission to enhance awareness campaigns about its operations, pledging ACAMB’s full support in this endeavour.
He highlighted ACAMB’s commitment to helping financial service providers better understand the Commission’s objectives, thereby ensuring compliance with data protection laws.
He added, “as social engineers responsible for managing perception and corporate reputation, we cannot afford to have our brands breach the Data Protection Act. Such violations, according to him, could damage corporate trust and harm the business’s long-term sustainability.”
The national commissioner/CEO of NDPC, Dr. Vincent Olatunji assured ACAMB of the NDPC’s willingness to collaborate with financial sector players, clarifying that the Commission’s role is not punitive but rather to ensure full compliance with the Data Protection Act.
The NDPC’s mandate is to safeguard individuals’ data privacy rights, foster safe personal data transactions, and prevent the misuse of personal data, among other objectives.
