By Kingsley I. Ilechukwu, Bureau Chief, South West, Nigeria
An important move towards strengthening data privacy in the country has been reached with the signing of a Memorandum of Understanding(MoU) between the Nigeria Data Protection Commission (NDPC) and the National Insurance Commission(NAICOM), Cyber Era NG learns.
We gather that this strategic collaboration verifies the commitment of both agencies to protecting data protection principles within the insurance sector and beyond.
The signing ceremony, held at the NAICOM headquarters in Abuja, was led by the National Commissioner and CEO of NDPC, Dr. Vincent Olatunji and the Commissioner for Insurance and CEO of NAICOM Olusegun Ayo Omosehin.
The aim of the MoU, we further gathered, is to cement the partnership between both regulatory authorities and to ensure data privacy becomes an integral part of the operations within the insurance sector.
Fortifying Collaboration
Dr. Olatunji hailed the inking of the MoU as a springboard in lofting the data protection landscape in Nigeria. Reflecting on the journey leading up to this partnership, Olatunji noted that the NDPC had already begun implementing initiatives outlined during a previous courtesy visit to NAICOM, key among these initiatives is the training of NAICOM staff on data protection practices and engaging with CEOs of insurance firms to emphasize the importance of data privacy within their operations.
He praised Mr. Omosehin for his proactive leadership and valuable contributions to the insurance industry, drawing from his extensive experience in the private sector. To ensure the effective implementation of the MoU, Olatunjiproposed the formation of a dedicated implementation committee that would oversee progress and provide regular updates.
Fidelity to Data Protection
Responding, Omosehin expressed gratitude to the NDPC for prioritizing the insurance sector in its data protection agenda and reiterated NAICOM’s irrevocable commitment to embedding data protection principles in its regulatory framework and operational activities.
Omosehin emphasized that this collaboration reflected NAICOM’s dedication to upholding the trust and confidence of policyholders and stakeholders in the insurance industry.
Championing Privacy Rights
The MoU between NDPC and NAICOM signifies a collaborative stride in promoting data privacy rights, a critical component of Nigeria’s digital economy. By fostering greater awareness and compliance within the insurance sector, the partnership aims to set a benchmark for other industries to follow.
As Nigeria continues its journey toward a robust data protection ecosystem, the NDPC-NAICOM alliance serves as a testament to the importance of inter-agency cooperation in achieving national objectives. Both organizations reaffirmed their shared vision of creating a data-secure environment that aligns with global best practices, ensuring the protection of personal information across all sectors.
This partnership signals a brighter future for data protection in Nigeria, setting the stage for enhanced regulatory compliance, increased stakeholder engagement, and greater public trust.
Editor’s Note: This story benefitted immensely from some backgrounding from: https://techandbiz.com.ng/2024/11/24/ndpc-and-naicom-forge-partnership-to-advance-data-privacy-in-nigeria/
