The National Data Protection Commission (NDPC) has fined Fidelity Bank N555.8m for violating customers’ data privacy. Mr. Vincent Olatunji, NDPC’s National Commissioner, said this on Wednesday in Abuja at the Validation Workshop on the Nigeria Data Protection Act General Application and Implementation Directive. According to him, the fine which was issued on Tuesday must be…
Justice Chukwujekwu Aneke of the Federal High court, Lagos has ordered Fidelity Bank Plc to immediately pay N811,174,229.25 to the Chief Registrar of the court, which is the principal amount claimed by a fintech company, Shago Payments Limited against the bank. The judge ordered that the said sum be held in trust in an interest…
Story Highlights Federal High Court Abuja freezes N1.1 billion across multiple bank accounts linked to ex-staff of Globus Bank accused of hacking and stealing N3.5 billion from customers. EFCC alleges that Babatunde Idris Olayiwola, Chinedu Ihuma, and Igwe George Benedict Obinna, former ICT staff of Globus Bank, orchestrated the fraud using insider knowledge and accessed…
Fidelity Bank Plc and its customers suffered N2.1bn loss after the lender saw a surge in fraud and forgery cases in 2023. Fraud and forgery cases rose by 22.2 per cent year-on-year from 2,518 recorded in 2022 to 3,079 in 2023, according to the bank’s financial statement analysed by THE WHISTLER. The Central Bank of…
