An online lending platform, Soko Lending Company Limited (Sokoloan), has been fined N10 million for data privacy invasion by the National Information and Technology Development Agency, NITDA.
Spokesperson of NITDA, Hadizah Umah made this known in a statement, Today.
She said series of complaints were reported against the company, including ‘unauthorized disclosures, failure to protect customers’ personal data, and defamation of character.
The agency stated that no fintech firm is allowed to share its customers’ data without due process.
NITDA, described the debt recovery strategy adopted by some loan platforms as a data-sharing breach.
It urged Nigerians to report such unlawful acts by loan companies so appropriate measures can be taken.
