Fidelity Bank has refuted claims of a data breach and objected to the fine imposed by the Nigerian Data Protection Commission. In a statement released by the Divisional Head of Brand and Communications at Fidelity Bank, it was emphasized that the bank adhered to high ethical standards and complied with data protection laws. The NDPC imposed a fine of N555.8 million on Fidelity Bank for alleged data privacy law violations, citing the bank’s perceived arrogance as a factor in the decision.
Responding to the allegations, Fidelity Bank explained that an account opening request received online was not operational due to incomplete documentation. The bank promptly blocked and closed the account when necessary documents were not provided. A notice of investigation from the NDPC was received in April, triggering an internal investigation by the bank into the complaint of unauthorized account opening.
Fidelity Bank clarified that online accounts without complete documentation are not activated, and if documents are not provided within 30 days, the accounts are closed. The bank maintained that it followed data protection policies and did not breach any laws. Despite engaging with the NDPC and providing evidence to support their stance, the bank was notified of a penalty.
The NDPC demanded a “remedial fee” of N250 million initially, followed by an increased demand of N555.8 million. Fidelity Bank reiterated its position of compliance and began further discussions with the Commission to address the situation.