Moniepoint, NDPC push for responsible data management

Onome Amuge

Moniepoint Microfinance Bank and the Nigeria Data Protection Commission (NDPC) have partnered to launch a nationwide sensitisation campaign as part of National Privacy Week 2024, focused on educating young Nigerians about the responsible use of personal data and the protection of their digital rights, as well as increasing public awareness and understanding of data privacy and protection.

Data protection is an important issue for all, but particularly for young people in Nigeria. With over 65 per cent of the population under 30 years old, there is a pressing need to educate this demographic about their rights and responsibilities when it comes to data protection. 

Moniepoint and NDPC, in a statement seen by Business a.m,explained that the focus on this huge youth demographic follows from its ability to serve as a great incentive to boost Nigeria’s productivity credentials and the role that they can play in championing an ethical and healthy ecosystem in view of the country’s digital economy aspirations.”

According to Vincent Olatunji, national commissioner/CEO,NDPC,  “Our youth are the future of Nigeria’s digital economy. It is crucial that they understand the importance of data privacy and use personal data responsibly and ethically as they engage with technology.” 

Olatunji highlighted the evolution of data protection in Nigeria, from the establishment of the Nigeria Data Protection Bureau (NDPB) in 2001 to its transformation into a Commission in 2019. He underscored the need for awareness and education around data protection, as this is essential for building a globally competitive workforce that can effectively implement the Nigeria Data Protection Act (NDPA) of 2019,providing a legal framework for collecting, storing, and sharing personal data. 

On his part, Babatunde Olofin, the managing director, Moniepoint MfB,stated “Data is not just a commodity. It is a reflection of our identity.  We recognize that young people are a huge dividend to be harnessed for Nigeria’s socio-economic transformation in terms of innovation, enterprise, and job and wealth creation. Getting young people to become more aware about issues in data protection and privacy is key to succeeding in a digital and globalized environment.”

Olatunji further added that Moniepoint is committed to empowering young people to take control of their digital lives. This, he explained, starts with understanding their rights and recognising the value of their personal data. As a compliant and responsible data processor. According to Olofin, Moniepoint believes that the foundation for achieving financial happiness lies in creating an environment where data subjects behave as responsible digital citizens.

Moniepoint stated that it remains committed to investing in Nigeria’s digital economy, which is creating numerous job opportunities and lifting millions out of poverty. The company believes that the digital economy can help to fulfill its vision of creating a society where the dreams of Nigerians are powered by technology. 

The National Privacy Week 2024 serves as a reminder of the basic right to privacy and the need to safeguard personal data from unauthorized access, misuse, and exploitation.