Fidelity Bank has denied allegations of data breach and contested the N555.8 million fine imposed by the Nigerian Data Protection Commission (NDPC). The bank maintains that it adhered to all relevant data protection laws and conducted itself with the highest ethical standards.
The NDPC claims that Fidelity Bank violated data privacy laws, leading to the substantial fine. However, the bank asserts that the alleged breach involved an incomplete online account opening request, which was never operational due to lack of documentation.
Fidelity Bank provided a detailed timeline of events, including an internal investigation and responses to the NDPC, emphasizing that no data breach occurred and the account opening process was never completed. Despite this, the NDPC imposed a penalty, which the bank received in two letters, first demanding N250 million and later escalating to N555.8 million.
The bank’s divisional head of brand and communications, Meksley Nwagboh, stated that Fidelity Bank “conducted itself to the highest ethical standards by ensuring full compliance with extant laws on data protection.” The bank is challenging the fine and allegations, maintaining its commitment to data protection and ethical standards.
