The Securities and Exchange Commission, SEC has restated its preparedness to collaborate with the National Information Technology Development Agency (NITDA) to foster safe conduct of transactions and usage of personal data in the Nigerian capital market.
Director General of the SEC, Mr. Lamido Yuguda stated this during a webinar on Nigerian Data Protection Regulation and it effect on the Nigerian capital market.
The event had as its theme: Nigeria Data Protection Regulation (NDPR): Implications on the Nigerian Capital Market.
Mr. Yuguda stated that the Commission is very serious on the issue of data protection in the capital market assuring that going forward, the SEC would continue to create necessary awareness.
According to him, “You may all recall that in 2019, the National Information Technology Development Agency (NITDA) issued the Nigerian Data Protection Regulation (NDPR) with the objectives to safeguard the rights of natural persons to data privacy; foster safe conduct for transactions involving the exchange of Personal Data; prevent manipulation of Personal Data; and ensure that Nigerian businesses remain competitive internationally.
In his presentation, Lead-NDPR Desk, NITDA, Mr. Olufemi Daniel, assured of the readiness of NIDTA to provide advisory support on NDPR implementation for the Capital Market adding that the agency is willing to work in synergy with the SEC to standardise compliance.
