The Nigeria Data Protection Commission (NDPC) announced that it generated N400 million from penalties imposed on seven companies for violating citizens’ data.
National Commissioner of NDPC, Dr. Vincent Olatunji disclosed this when he addressed journalists in Abuja on Tuesday while marking the first year of President Bola Tinubu’s signing of the Nigeria Data Protection Commission Act into law.
Olatunji said the Commission has conducted over 1,000 investigations involving financial institutions, schools, insurance companies, and consultancy firms on issues bordering on different levels of data breaches.
Out of the 1,000 cases, Olatunji said about 400 of the cases involved digital lending companies, commonly called ‘loan sharks.’
“Cumulatively, we have had over 1,000 reports of data breaches between when we started and now. The figure is low because of the low level of awareness among Nigerians.
“Out of the 1,000 cases, about 400 of them are digital lending companies that we call ‘loan sharks,’ but the main ones we have conducted investigations in the education sector, financial institutions, real estate, insurance, consulting, and schools, and as of today, we have finalised four major investigations, and some have paid their remediation fees.
“In the law, we can fine companies depending on the nature of the breach, impact on the subject, and level of cooperation, and we got N400 million from remediation fees,” Olatunji said.
Olatunji further emphasised the importance of guarding citizens’ data according to global best practices.
He noted that the NDPC’s efforts have significantly improved compliance with the Nigeria Data Protection Act 2023 across private and public sectors.
Olatunji added, “When we started, the levels of compliance within the private sector was about 49% while the public sector was 4%. But today, private sector compliance is above 55%, while the public sector has reached 15%.”
He reiterated the NDPC’s commitment to protecting citizens’ data and fostering a secure data ecosystem, now valued at over 10 billion naira.
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