The National Commissioner/CEO of the Nigeria Data Protection Commission (NDPC), Dr Vincent Olatunji, received the management team of Stanbic IBTC Bank, led by its Chief Executive Officer, Mr Wole Adeniyi, on a strategic working visit to the Commission’s headquarters in Abuja.

Mr Adeniyi commended Dr Olatunji for his commitment to nation-building. He stated that Stanbic IBTC, being the biggest financial services provider in Nigeria, is committed to best practices in data protection and privacy. He noted that the team was at the Commission to seek the Commission’s support in capacity building for its staff through the Virtual Privacy Academy (VPA) and to explore possible areas of collaboration.

In his remarks, Dr Olatunji commended the Bank’s willingness to invest in data protection and privacy training for its staff through the VPA. He noted that data controllers and processors of major importance, such as Stanbic IBTC Bank, are obligated to protect the personal data of Nigerians in their databases. He added that the financial sector is strategic to Nigeria, noting the evolution of banking beyond the walls of traditional banks. He stated that data protection adds value to the financial sector.

Dr Olatunji stated that the Commission is committed to maintaining a balance between regulation and economic growth. He explained that the NDPC’s role is not to hinder innovation but to guide it in ways that benefit Nigerians and align with President Bola Ahmed Tinubu’s Renewed Hope Agenda. He also urged Stanbic IBTC Bank to remain compliant with the provisions of the Nigeria Data Protection Act, 2023 (NDP Act).

Both organisations agreed to continue working together to strengthen Nigeria’s data protection ecosystem.