NITDA sanctions Soko’s N10million loans – Blueprint Newspapers Limited

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The National Information Technology Development Agency (NITDA) has sanctioned an online lending platform, Soko Lending Company Limited (Soko Loans) for invasion of privacy.

NITDA, in a statement made available to reporters on Tuesday, said the action was taken after receiving a series of complaints against the company for unauthorized disclosures, failure to protect customer personal data and character defamation as well. only for failing to exercise due diligence as enshrined in the Nigerian Data Protection Regulation (NDPR).

One of these complaints filed by Bloomgate Solicitors on behalf of its client, the Data Subject, was received on Monday, November 11, 2019.

“NITDA, as part of its due diligence process, has opened an investigation into alleged breaches of NDPR provisions.

Soko Loans gives its clients unsecured loans and asks a lender to download their mobile app to their phone and activate a direct debit in favor of the company. The application accesses the telephone contacts of the lender.

According to one of the complainants, when he did not fulfill his repayment obligations due to insufficient credit on his account on the effective date of the direct debit, the company unilaterally sent messages undermining privacy to the complainant’s contacts.

The investigation revealed that the contacts of the complainants who were neither parties to the loan operation nor consented to the processing of their data confirmed the receipt of such messages.

The agency went to great lengths to get Soko Loan to change the unethical practice, but to no avail.


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