daniel chigunwe
According to the Nigeria Data Protection Commission, over 1000 financial institutions, schools, insurance companies, and consultancy firms are suspected of some form of data breach.
The Commission noted that these institutions are currently under investigation. On June 12, 2023, Nigeria’s president signed the data protection bill, enhancing citizens’ rights to privacy and other fundamental liberties in both analog and digital interactions.
The Nigeria Data Protection national commissioner Vincent Olatunji disclosed that four major financial institutions and three other organisations were sanctioned and fined a total of N400 million for data breaches involving people, as reported by the Punch.
He disclosed this information to the media during a roundtable discussion to commemorate the first anniversary of President Bola Tinubu’s signing of the Nigeria Data Protection Commission Act into law in Abuja.
The president of Nigeria signed the data protection bill on June 12, 2023, to improve privacy rights and other basic freedoms in cyberspace and analogue interactions.
“As of this time last year, we were so unsure if the president would assent to the bill, what if the president didn’t sign it, what would have happened?” the commissioner stated.
“The bill was passed by the ninth Assembly and usually, when a new government comes in, they want to jettison all that the former government did before it got there. More importantly, it was a new government. I was apprehensive, everyone was worried but I kept faith in God even though I was not sure too, and on the 12th of June last year, the president signed it” he added. -Business Insider Africa
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