NDPC law has enhanced investors’ confidence in Nigeria – Olatunji

The Nigeria Data Protection Commission (NDPC) on Tuesday said that it had enhanced investors’ trust, credibility and confidence in the nation for investment to thrive.

The National Commissioner, NDPC, Dr Vincent Olatunji, told the News Agency of Nigeria (NAN) this during its working visit to the Data Knowledge and information Privacy Protection Initiative (DKIPPI) in Lagos.

Olatunji said that the commission had c

ontributed substantially to the nation in the past one year of the passage of the NDPC Law.

“The commission has contributed in the sense that an average investor coming into Nigeria now has that trust and confidence in our nation.

“When you invest we are talking of using technology and when you use technology, we are talking of people’s data and personal information.

“When investors share their data and it is registered with the NDPC there is that element of trust that should anything go wrong, a law and a commission exists to which one can report to seek redress.

“That alone is enough credibility and assurance of protecting the data of the investors.

“The issue of having a national law and independent data protection authority is one of the criteria for investment in the country.

“The level of compliance among others are what investors look out for; we are aware of what the President is doing to attract direct foreign investment,” he said.

Olatunji noted that in terms of job creation, in the last one year, the commission had added about 3000 jobs because with the data protection law in place, many organisations had shown a need for data protection.

He said that with the law in place, the country had gained international recognition in the global data protection body made up of over 100 countries.

According to him, a country without a national law or an independent body cannot be accepted in the global data protection body.

He, however, said that with the data protection law in place, having been passed in June 2023, and the commission applied that June; by August the commission had been accepted in the global body.

The national commissioner said that with the law in place the commission would be hosting the network of African Data Authorities Convention coming up later in the year.

He said it was where all the authorities of data protection bodies met to share their views and knowledge.

“You know what that means to Nigeria bringing all Africa countries for like four days, bringing multinationals and development partners, it says a lot about the confidence they have to invest in our system.

“These are what the law has brought to Nigeria and many more,’’ the NDPC boss said.

He said that the commission was working with Data Authorities of Canada, Ghana, Kenya and South Africa on knowledge exchange and mutual assistance.

Olatunji called for awareness and sensitisation of an average Nigerian on data protection law.

He said the commission had developed a General Application Implementation Directives (GAID) to work more with partners, which would help the commission implement whatever it wanted to implement.

The commisioner added that GAID would also help the commission to thoroughly explain the NDPC law and roadmap.