The outcry of many Nigerians over the alleged breach of customers’ data privacy, invasion by online banks, especially digital loan providers, has prompted the federal government to begin a probe into the matter.
The Director-General, National Information Technology Development Agency, Kashifu Inuwa, disclosed this in Abuja on Monday, during a brief with journalists ahead of the National Privacy Week 2022.
He stated that the agency will be working with the Nigeria Police Force and other relevant agencies to investigate several lending platforms, popularly called loan shark platforms.
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He said this while addressing
“We are working with relevant agencies to make sure we address that challenge because it is not only NITDA’s mandate that governs everything. When you talk about any financial services, it is the CBN. When you talk about general complaints, there is a commission for that. But NITDA plays a critical role because of the breach of data privacy.
“We have sanctioned some of them. We are working with the Nigerian police, investigating many of them. We are working to address the challenge,” Inuwa said.
Recall that in August 2021, one of such lending platforms, Soko loan lending company was fined N10m by the NITDA for breach of data privacy
