Alex Omenye
Fidelity Bank has strongly denied allegations of a data breach and is challenging the N555.8 million fine imposed by the Nigerian Data Protection Commission.
In a statement issued on Wednesday, Meksley Nwagboh, the Divisional Head of Brand and Communications at Fidelity Bank, asserted that the bank has consistently adhered to the highest ethical standards and complied fully with data protection laws.
The NDPC announced the fine on Wednesday, accusing the bank of violating data privacy regulations.
The National Commissioner of the NDPC, Vincent Olatunji criticized the bank’s approach, stating that their “arrogance ultimately led us to impose the full penalty.”
Fidelity Bank has refuted these claims, stating that the alleged data breach was thoroughly investigated. The bank explained that the issue stemmed from an online account opening request, which was not completed due to incomplete documentation.
The bank further detailed that the account in question was promptly blocked and subsequently closed after the required documents were not submitted.
According to the bank, the issue began on April 30th, 2023, when they received an investigation notice from the Nigerian Data Protection Agency, now the NDPC. The investigation was based on a complaint from an individual who claimed their personal information was used to open an account without consent.
Fidelity Bank conducted an internal investigation and found that an online account opening request was made in the complainant’s name. However, in accordance with their data protection policies, the account was never activated or operational due to the lack of complete documentation.
The bank emphasized that, as per their policy, online accounts without full documentation are deactivated and closed after 30 days if the necessary documents are not provided.
Fidelity Bank clarified that the account was never operational, as the required passport photograph and BVN were not submitted. The account was placed on a ‘Post No Debit’ status and was closed after 30 days when the documents were not provided.
On May 2nd, 2023, Fidelity Bank responded to the NDPC, asserting that no data breach had occurred and that the account opening process was incomplete.
Despite presenting their findings and evidence during a Pre-Action meeting with the NDPC on July 7th, 2023, the bank was informed that the commission had decided to impose a penalty.
On December 5th, 2023, the bank received a letter from the NDPC demanding a “remedial fee” of N250 million, which was later increased to N555.8 million on August 20th, 2024, while discussions were still ongoing.
Fidelity Bank continues to engage with the NDPC, maintaining that it has not violated any laws or regulations.
