NDPC partners with Gates Foundation and KPMG on open banking

The Nigeria Data Protection Commission, commenced partnership with the Bill and Melinda Gates Foundation and KPMG, in developing open banking frameworks in a move to deepen financial inclusion.

The Chief Executive Officer of the NDPC, Vincent Olatunji, on Tuesday, received the Senior Programme Officer for Regulatory and Consumer Protection Technologies at the Bill and Melinda Gates Foundation, Anna Wallace and Partner and Head of Cybersecurity and Privacy at KPMG, John Anyanwu in Abuja.

In a statement on X (formerly Twitter), the commission noted that the purpose of the meeting was to discuss open banking frameworks for Nigeria, a project coordinated by the Gates Foundation.

It said the meeting served as a pivotal moment in recognising NDPC’s crucial role in the project and formalising engagement to ensure robust input in the areas of data protection and privacy.

According to the statement read, “NDPC emphasised the crucial role of digital identity in the financial sector and open banking, stressing the importance of implementing measures to safeguard digital identities to foster trust and confidence.”

The NDPC CEO also addressed the misconception among some banks regarding the roles of a chief information security officer and a data protection officer, emphasising the legal requirement for all data controllers to have a DPO.