The National Commissioner/CEO of the Nigeria Data Protection Commission (NDPC), Dr Vincent Olatunji, led a delegation on a courtesy visit to the Managing Director of the Nigeria Commodity Exchange (NCX), Mr Anthony Atuche.

During the meeting, Dr Olatunji expressed appreciation to Mr Atuche for the warm reception and noted that the NCX is highly strategic to the economic growth of the nation. He stated that personal data plays a critical role in commodity exchange and emphasised that strong data protection practices are essential for building trust, attracting investment, and safeguarding organisations against growing cyber threats. He further noted that investors globally are more inclined to invest in countries where data protection is assured, aligning with President Bola Ahmed Tinubu’s vision of creating seamless businesses for investors.

Dr Olatunji emphasised the importance of the NCX complying with the Nigeria Data Protection Act, 2023 (NDPA), and provided guidance on steps towards compliance. To support the NCX in understanding the data protection ecosystem and achieving compliance, he, on behalf of the NDPC, offered free induction training and Virtual Privacy Academy (VPA) vouchers to staff of the NCX.

In his response, Mr Atuche commended Dr Olatunji for the visit and described it as timely, given the ongoing innovations being planned by the NCX, which will require the use of personal data of Nigerians, including BVN, NIN, and CAC numbers, among others. He noted that the NCX is a data-driven organisation, as it collects and shares data before, during, and after trades, and reiterated its commitment to innovation, integrity, excellence, and responsiveness.

Mr Atuche thanked Dr Olatunji for the training and VPA offer, and affirmed NCX’s readiness to invest in its staff to strengthen data protection and privacy within the organisation and across the exchange ecosystem in Nigeria.

A joint working group was subsequently established between the NDPC and the NCX to develop actionable plans.