We Did Nothing Wrong, Fidelity Bank Rejects FG’s N555.8 Million Fine 

Fidelity Bank has denied claims of a data breach and is challenging a fine from the Nigerian Data Protection Commission (NDPC).

In a statement on Wednesday, Meksley Nwagboh, the bank’s Head of Brand and Communications, said that Fidelity Bank has followed all data protection laws and maintains high ethical standards.

The NDPC recently announced a fine of ₦555.8 million against the bank, accusing it of breaking data privacy rules.

Vincent Olatunji, the NDPC Commissioner, said the fine was imposed because of the bank’s “arrogance” during the investigation.

In response, the bank explained that the issue was investigated and found to be related to an online account opening request.

The account was never made active because the required documents were incomplete. The bank blocked the account and later closed it when the missing documents were not provided.

Fidelity Bank shared that they received a notice of investigation from the NDPC on April 30, 2023. The investigation was about a complaint from someone who claimed their details were used to open an account without their permission.

Bank’s Internal Check

Fidelity Bank looked into the matter and confirmed that the account request was received online, but it was never fully set up because key documents like a passport photo and Bank Verification Number (BVN) were missing.

According to the bank’s policy, accounts without complete documentation are blocked and closed after 30 days if the documents are not submitted.

The bank emphasized that the account was never operational. On May 2, 2023, Fidelity Bank informed the NDPC that there was no data breach. However, despite the bank’s explanation, the NDPC decided to impose a penalty.

Ongoing Discussions with NDPC

Fidelity Bank tried to resolve the issue through discussions, including a meeting with the NDPC on July 7, 2023, where the bank repeated its position. Still, the NDPC decided to proceed with the fine.

On December 5, 2023, the bank received a letter from the NDPC asking them to pay a ₦250 million fine within 21 days. Fidelity Bank continued discussions with the NDPC, believing they had not broken any laws. However, on August 20, 2024, the NDPC increased the fine to ₦555.8 million.

Fidelity Bank is standing by its position and continues to challenge the allegations and the fine from the NDPC.