Both organizations considered the possibility of organizing a data protection capacity-building workshop for the financial sector in Nigeria. Photo: VON
The Nigeria Data Protection Commission (NDPC) and MasterCard are working towards enhancing data protection compliance through capacity-building workshop for the financial sector.
This was one of the outcomes during a webinar organized by MasterCard tagged “Nigeria Data Protection Act 2023: Implications for the Financial Sector.”
The National Commissioner/CEO, Nigeria Data Protection Commission (NDPC), Dr. Vincent Olatunji noted that the realization of the need to have extensive legislation on Data Protection brought about the NDP Act.
He advocated compliance through appropriate privacy policies, appointment of Data Protection Officers (DPCOs), awareness and capacity building for staff, appointment of licensed DPCOs to take organizations through compliance and filing of annual compliance return with the NDPC amongst others.
He explained that if organizations in the financial sector are fully compliant, it gives them a commercial benefit as it boosts the trust and confidence of their clients/customers which has a lot to do with their reputation and high revenue generation.
The Chief Privacy and Data Responsibility Officer of MasterCard, Caroline Louveaux spoke on the various efforts made by Mastercard in securing customers’ information with particular reference to privacy by design.
She appreciated the National Commissioner and commended the partnership between NDPC and Mastercard.
Louveaux also noted the ongoing initiative in having a common policy framework for data protection in Africa.
Writing by Abdullahi Lamino; Editing by Adeniyi Bakare