Moniepoint and NDPC collaborate on data security.

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Moniepoint Microfinance Bank has teamed up with the Nigeria Data Protection Commission to promote the responsible use of personal data among young Nigerians.

According to a statement by the bank, the sensitization exercise was part of activities marking National Privacy Week 2024.

The bank said that with about 65 percent of Nigeria’s population under 30 years old, the need to raise awareness about data protection rights and responsibilities, especially among young people, was imperative.

The focus on the youth demographic, the bank said, followed their ability to serve as a great incentive to boost Nigeria’s productivity credentials and the role they can play in championing an ethical and healthy ecosystem given the country’s digital economy aspirations.

The Managing Director of Moniepoint Microfinance Bank, Babatunde Olofin, described young people as dividends to be harnessed for Nigeria’s socio-economic transformation in terms of innovation, enterprise, and job and wealth creation.

Managing Director of Moniepoint Microfinance Bank, Babatunde Olofin

He noted that getting young people to become more aware of issues in data protection and privacy was imperative to succeeding in a digital and globalised world.

He said, “We want to empower young people to take charge of their digital lives, which starts with knowing your rights and recognising the value of personal data.

“As a compliant and responsible data processor, we believe that financial happiness can only happen in an environment where data subjects behave well as responsible digital citizens and we’ll support industry stakeholders to build an ecosystem that encourages all Nigerians to take data protection and privacy seriously.”

On his part, the National Commissioner of the Nigeria Data Protection Commission, Vincent Olatunji, highlighted the evolution of data protection in Nigeria, from the establishment of the Nigeria Data Protection Bureau to its transition into a commission.

He underscored the importance of awareness, which he said was paramount in building a globally competitive pool of data protection professionals to discharge their duties under the Nigeria Data Protection Act.

Olatunji said, “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.”