Court Fines Stanbic IBTC ₦15m Over Unauthorised Use of Former Customers’ Data

An FCT High Court has ordered Stanbic IBTC Bank to pay ₦15 million in damages for unlawfully retaining and processing the personal data of two former customers after their account was closed. The court held that the bank continued sending promotional emails and text messages despite the customers withdrawing consent and demanding that their data no longer be used for marketing. It ruled that the conduct breached the Nigeria Data Protection Act, their constitutional right to privacy and consumer-protection rules. The bank was ordered to erase data it is not legally required to keep and was permanently restrained from using or transmitting the customers' information for marketing or other unauthorised purposes. The court also awarded ₦500,000 in costs and imposed 10% annual post-judgment interest until payment. The ruling noted that banks may still retain records required under banking and anti-money-laundering laws. It could set an important precedent for how Nigerian financial institutions handle customer data after account closure.

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