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Friday, April 23, 2021

Digital Rights Lawyers Initiative files lawsuit against CBN for directive to share customer data with FinTech companies

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The Digital Rights Lawyers Initiative has filed a data privacy suit against the Central Bank of Nigeria (‘CBN’) at the Federal High Court of Nigeria in suit number, No. FHC/AB/CS/76/2020 following the Virtual Fintech Summit on 6 August 2020, where the CBN’s Director for Payment System Management informed the participants that the CBN had directed commercial banks to share customers’ data with FinTech companies.

In particular, Digital Rights Lawyers Initiative seeks a declaration that the CBN’s directive to commercial banks to share their customers’ data with FinTech companies is unconstitutional, null, and void, as well as a declaration that the CBN’s directive to commercial banks to share their customers’ data with FinTech companies violated and/or is likely to violate the right to privacy as guaranteed under Article 1.1(a) of the Nigeria Data Protection Regulation 2019 (‘NDPR’) and Section 37 of the Constitution of the Federal Republic of Nigeria, 1999 (as amended)

 

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