The Data Protection Commission has rejected the order issued by the Central Bank of Nigeria for commercial banks to request for customers social media handles.
National Commissioner for Data Protection, Dr Vincent Olatunji objected to the CBN regulation requiring financial institutions to access data such as customers’ social media accounts.
Speaking on channel’s “Politics Today” program on Monday, Olatunji, who is the Director of the National Information Technology Development Agency, NITDA said that the collection of such data was not necessary, adding that the committee had written to the CBN.
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He said:
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“We have done a letter to the CBN about what they have done because in data protection and privacy issues, there are some basic principles to follow when you want to collect citizens’ data.
“One, there is what is called data minimization. That is, you don’t collect data more than for the purpose for which you want to use it. There is a limit to the level of data you must collect.
“Two, purpose limitation: what purpose? Why do you actually need somebody’s data? In this case, it is for financial transactions. The issue of asking for their social media is not really necessary.”
He pointed out that the CBN must follow some guidelines if it wanted to use such data in the public interest as regulators to monitor financial transactions.
One of the guidelines he suggested included informing clients and stating the purpose.
However, he noted that “ideally this should not happen. We are working with the CBN on this matter
He said:
“Ideally, that should not happen. We are engaging the CBN on this.
“You don’t collect data more than what you need, so there is no point in collecting such data. So, we will definitely take them up on it and work with them and look at the best solution out of it.”
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Daily Report Nigeria had earlier reported that the CBN mandated financial institutions to obtain the social media handles, e-mail addresses, telephone numbers, residential addresses, and more of their customers.
