Fidelity Bank Plc has reiterated its dedication to data protection and corporate governance in response to recent reports regarding an alleged data breach. The bank addressed a news story titled “NDPC Fines Fidelity Bank for Data Breach,” clarifying its position on the ongoing engagement with the Nigerian Data Protection Commission (NDPC).

The controversy stems from a complaint received by the NDPC on April 30, 2023, concerning the alleged unauthorized use of a customer’s details to open an account with the bank. Fidelity Bank promptly conducted an internal investigation, revealing that an account opening request had indeed been made online in the complainant’s name. However, the bank adhered strictly to its data protection policies, preventing the account from becoming operational due to the lack of required documentation.

Fidelity Bank emphasized that the account was placed on “Post No Debit” status immediately after the initial request, and since the necessary documents were not provided within 30 days, the account was subsequently closed. The bank maintains that at no point was the account operational, and therefore, no data breach occurred.

Despite Fidelity Bank’s explanations and evidence presented during a Pre-Action meeting with the NDPC on July 7, 2023, the Commission decided to impose a penalty on the bank. Initially, a demand for a “remedial fee” of N250 million was issued in December 2023, which has now been increased to N555.8 million as of August 20, 2024.

In its official statement, Fidelity Bank reassured its customers and the public of its unwavering commitment to the highest ethical standards in handling customer data. The bank highlighted its strong corporate governance record, which has earned it the prestigious CG+ award from the Nigerian Exchange Group (NGX).

“We remain in discussions with the NDPC to reach an amicable resolution,” said Dr. Meksley Nwagboh, Divisional Head of Brand & Communications at Fidelity Bank. “Our commitment to strong corporate governance and compliance with data protection laws is steadfast, and we will continue to uphold these standards in all our operations.”

The bank affirmed that it is dedicated to ensuring that all regulatory engagements are conducted with transparency and integrity, reflecting its commitment to protecting customer data and maintaining trust in its services.