I had the pleasure of leading a delegation from the Nigeria Data Protection Commission (NDPC) on a courtesy visit to the Managing Director of the Nigeria Commodity Exchange (NCX), Mr Anthony Atuche.
In my remarks, I expressed my appreciation for the warm reception and highlighted the strategic role of the NCX in driving Nigeria’s economic growth. As commodity exchanges increasingly rely on personal data to facilitate transactions and build market confidence, robust data protection has become indispensable for fostering trust, attracting investment, and safeguarding organisations against evolving cyber threats.
Investors across the globe are more confident in jurisdictions where personal data is adequately protected: this aligns with the vision of President Bola Ahmed Tinubu, GCFR to create a seamless and investor-friendly business environment in Nigeria.
During our discussions, I emphasised the importance of compliance with the Nigeria Data Protection Act (NDPA), 2023, and provided guidance on practical steps towards achieving compliance. To support the NCX on this journey, the NDPC offered free induction training and Virtual Privacy Academy (VPA) vouchers for members of staff to deepen their understanding of data protection and privacy best practices.
I was encouraged by Mr Atuche’s commitment to strengthening data protection within the NCX. He noted that the Exchange is a data-driven organisation that handles sensitive personal information, including BVN, NIN, and CAC-related data, as part of its operations and ongoing innovation efforts. His commitment to investing in staff capacity and embedding privacy across the exchange ecosystem is commendable.
As a significant outcome of the visit, the NDPC and NCX have established a joint working group to develop actionable plans that will strengthen data protection compliance and enhance trust within Nigeria’s commodity exchange ecosystem.