The Bank of Industry has achieved a significant milestone in its commitment to global best practices by receiving the ISO/IEC 27701:2019 certification for Privacy Information Management Systems.

This certification, issued by the British Standards Institution, extends the bank’s existing ISO/IEC 27001:2022 certification, which was first obtained in 2019.

The ISO/IEC 27701:2019 standard aligns with key regulations such as the General Data Protection Regulation and Nigeria’s Data Protection Regulation.

By securing this certification, BOI has demonstrated that it operates a comprehensive and structured framework for managing, processing, and safeguarding sensitive data relating to customers, employees, and third parties.

The framework establishes clear roles and responsibilities, integrates privacy management into security practices, and enforces robust privacy controls.

BOI’s Managing Director and Chief Executive Officer, Dr. Olasupo Olusi, said, “This certification represents a proactive commitment to privacy management. It reinforces trust in our ability to protect the data of customers, partners, and stakeholders while meeting the highest international standards.”

The certification scope covers the entire lifecycle of Personally Identifiable Information, from collection, storage, and processing to sharing and eventual disposal.

As both a PII Controller and Processor, BOI has embedded strong privacy measures across its physical and digital infrastructure. This recognition enhances BOI’s credibility in the financial sector and builds confidence among customers, investors, and regulatory authorities.

BOI is the first Development Finance Institution in Nigeria and only the second bank in the country to obtain the ISO/IEC 27701:2019 certification.