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NITDA slams N5m fine on Electronic Settlement over data breach
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By Emmanuel Elebeke
National Information Technology Development Agency, NITDA, has ordered a data controller, Electronic Settlement Limited to pay the sum of N5 million as fine for certain breaches on personal data entrusted to the company.
NITDA said its action was in line with the requirements of the National Data Protection Regulation, NDPR.
The agency also directed the company to conduct Data Protection Impact Assessment on some of its data-intensive applications and products.
Electronic Settlement Limited, ESL is an indigenous payments company which claims to have the capacity to revolutionise the payment industry in Nigeria.
TODAY
March 17, 2021
National Information Technology Development Agency, NITDA, has ordered a data controller, Electronic Settlement Limited, to pay the sum of N5 million as fine for certain breaches on personal data entrusted to the company.
NITDA said its action was in line with the requirements of the National Data Protection Regulation, NDPR.
The agency also directed the company to conduct Data Protection Impact Assessment on some of its data-intensive applications and products.
Electronic Settlement Limited, ESL is an indigenous payments company which claims to have the capacity to revolutionise the payment industry in Nigeria.
NITDA explained that the investigative process that led to the fine, involved an analysis of the company’s applications and websites; visit to the company’s office in Lagos, review of its technical documents as submitted to the Agency and interrogation of its officials by NITDA investigation team in Abuja.
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NITDA fines Nigerian fintech company
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The story: The Nigerian Information Technology Development Agency (NITDA), has fined Nigerian financial services provider, Electronic Settlements Limited with the sum of ₦5 million ($13,123) for Data Protection Breach.
Electronic Settlement Limited is a financial services company behind products like Paypad, a mobile Point of Sale (mPoS) service, and CashEnvoy, a web payment gateway.
NITDA fines firm N5 million for data protection breach NITDA fines firm N5 million for data protection breach
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The National Information Technology Development Agency (NITDA) has concluded its investigation process on the personal data breach by Electronic Settlement Limited and fined the firm N5 million for data protection breach.
The investigative process involved an analysis of the company’s applications and websites; visit to the company’s office in Lagos, review of its technical documents as submitted to the Agency and an interrogation of its officials by the NITDA investigation team in Abuja.
A statement issued by the Head, Corporate Affairs and External Relations of NITDA, Mrs Hadiza Umar, said “at the end of the process, we have established that there was a data breach involving the company.