Kelvin Bowoto
However, this new research demonstrates that the problems generated by digital lenders persist. In its 2023 annual report, the NDPC noted that the findings of ongoing investigations had revealed that “loan apps are overly intrusive.”
While the commission agreed that digital lenders “generally violate the principles of data protection and privacy because they have access to data subjects’ contacts, pictures, messages, etc.,” it also highlighted that their actions are part of a larger problem.
Meanwhile, it has stated that it will create a systemic solution in partnership with other authorities and third-party lending platforms.
To address this issue further, the NDPC produced the Nigeria Data Protection Act-General Application and Implementation Directive, which addresses data breaches, the relevance of data ethics, and privacy by design and default, among other topics.
It is also working with authorities through the Joint Enforcement and Regulatory Taskforce to clean up the digital lending market.
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“Under the abetment, third-party platforms that facilitate data privacy breaches will now be obligated to limit access to those who utilize their platforms for such purposes.
“Organizations, particularly communication networks, should be willing to restrict or ban telephone lines that are implicated in privacy violations,” the group went on to say.
Lending institutions must now acquire data protection clearance from the NDPC before operating.
Remember that on November 16, 2022, Google Play announced changes to its Developer Program Policy. According to the updates, digital money lenders in Nigeria must follow the guidelines set by the Federal Competition and Consumer Protection Commission (FCCPC).
They must also furnish Google Play with additional information demonstrating their compliance with the relevant regulatory authorities in the country.
Techrectory with Agency Report.
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