Home Business FG says data protection has enhanced investors’ trust in Nigeria

FG says data protection has enhanced investors’ trust in Nigeria


The Nigeria Data Protection Commission (NDPC) on Tuesday said that it had enhanced investors’ trust, credibility, and confidence in the nation, enabling investment to thrive.

NDPC national commissioner Vincent Olatunji said this during its working visit to the Data Knowledge and Information Privacy Protection Initiative (DKIPPI) in Lagos.

Mr Olatunji said that the commission had contributed substantially to the nation in the year since the passage of the NDPC Law.

He said, “The commission has contributed in the sense that an average investor coming into Nigeria now has that trust and confidence in our nation. When you invest, we are talking of using technology, and when you use technology, we are talking of people’s data and personal information.

“When investors share their data and it is registered with the NDPC, there is that element of trust that should anything go wrong, a law and a commission exists to which one can report seeking redress.

“That alone is enough credibility and assurance of protecting the data of the investors. The issue of having a national law and independent data protection authority is one of the criteria for investment in the country. The level of compliance, among others, is what investors look out for; we are aware of what the President is doing to attract direct foreign investment.”

Mr Olatunji noted that in terms of job creation, in the last year, the commission added about 3000 jobs because, with the data protection law in place, many organisations have shown a need for data protection. He said that with the law in place, the country had gained international recognition in the global data protection body, which is made up of over 100 countries.

According to him, a country without a national law or an independent body cannot be accepted in the global data protection body. He, however, said that the data protection law, passed in June 2023, was in place, and the commission applied that June; by August, the global body had accepted the commission.



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