Nigeria is no stranger to Telecom and ICT-related regulators slapping fines on Tech firms, many times it has been Nigerian Communications Commission (NCC). MTN was the last firm to feel the wrath of NCC, this time around, however, it is The Nigerian Information Technology Development Agency (NITDA)
Nigerian financial service provider, Electronic Settlements Limited has been fined 5 million ($13,123) by NITDA for a Data Protection Breach.
Electronic Settlement Limited is a financial service provider behind items like Paypal, a mobile Point of Sale (mPoS) administration, and CashEnvoy, an online payment gateway.
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NITDA Head of Corporate Affairs and External Relations, Mrs. Hadiza Umar, expressed that the organization will be under a six-month oversight by NITDA which will include the execution of endorsed security conventions and cycles.
As it happened
NITDA maintains that it led examinations on the organization’s sites, and applications. It likewise visited the organization’s office in Lagos, inspected its specialized archives and grilled its authorities at the NITDA office in Abuja.
Why is this an issue?
In 2019, NITDA presented the Nigerian Data Protection Regulation (NDPR) to attempt to bring Nigeria up to worldwide principles for shielding the privileges of people to information security.
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In spite of the fact that strategy specialists concede there’s an opportunity to get better, it was generally a positive development. In any case, it isn’t clear the amount Nigerians or Nigerian organizations attempt to be data compliant.
Promising signs?
By executing such exacting discipline, NITDA may be imparting a sign to different organizations that are yet to be data compliant. One just expects this to stretch out to government workplaces and schools that have likewise had data protection and compliance issues. It is noteworthy that NITDA has shifted compliance deadlines several times in the past.