Nigeria High Court orders Stanbic IBTC to pay N15 million for data privacy breach

The Federal Capital Territory High Court ruled that Stanbic IBTC Bank Limited unlawfully retained and processed the personal data of two former customers after their banking relationship ended. The court found the bank in breach of the Nigeria Data Protection Act 2023, the constitutional right to privacy, and the Federal Competition and Consumer Protection Act.

Justice Kayode Agunloye ordered the bank to pay N15 million in damages to claimants David Ogundipe and Salami Tolulope Ibrahim, to delete all personal information not legally required to be retained, and to cease any further processing of their data without consent. A perpetual injunction was also granted to prevent future unauthorized use of the claimants' data. The judgment was delivered on July 29, 2024.