Fidelity Bank Affirms Commitment to Data Protection and Strong Corporate Governance

Oru Leonard 

In a demonstration of unwavering commitment to ethical standards, Fidelity Bank Plc addressed the recent news story regarding the Nigerian Data Protection Commission’s (NDPC) fine for alleged data breach. The bank assured the public that it has conducted itself with the highest integrity, ensuring full compliance with data protection laws.

The bank provided a detailed account of its engagement with the NDPC, from the initial notice of investigation in April 2023 to the ongoing discussions. Fidelity Bank emphasized that its internal investigation revealed no data breach occurred, as the account in question was never operational due to incomplete documentation.

Despite the NDPC’s decision to impose a penalty, Fidelity Bank remains committed to upholding strong corporate governance standards, which have earned the bank local and international recognition. The bank is engaged in discussions with the NDPC to resolve the matter amicably, reassuring customers of its dedication to protecting their data and maintaining the highest ethical standards.

Through this experience, Fidelity Bank has demonstrated its unwavering commitment to transparency, accountability, and customer trust, solidifying its position as a leader in Nigeria’s financial sector.

What Happened?

According to a statement signed by Dr Meksley Nwagboh, Divisional Head, Brand & Communications of Fidelity Bank Plc, “On April 30th, 2023, we received a notice of investigation from the Nigerian Data Protection Agency (NDPA), now the Nigerian Data Protection Commission (NDPC). The investigation was in respect of a complaint from [name has been withheld to protect the identity of the complainant] who claimed that [name withheld] details were used to open an account in the bank without [name withheld] consent.

Based on this notice, we conducted an internal investigation into the circumstances around the claim and discovered as follows:
An account opening request was received online in the name of [name withheld], and an email was sent to the email address attached to the request informing them about this.
In compliance with our Data Protection policy, accounts created online without full documentation are not allowed to be operational and are closed after 30 days if the outstanding documents are not provided to authenticate the identity of the person seeking to open the account.
In compliance with our data protection laws, the account was not allowed to be operational as the passport photograph and BVN were not provided.
The account was immediately placed on “Post No Debit” status as the applicant was expected to complete the account opening process by providing the outstanding documents for verification within 30 days. This was not done, and the account was eventually closed.”