SERAP Files Lawsuit Against Central Bank Of Nigeria Over Social Media Data Collection Directive

The Socio-Economic Rights and Accountability Project (SERAP) has taken legal action against the Central Bank of Nigeria (CBN) in response to the directive that banks and financial institutions should obtain customers’ social media handles for identification purposes.....KINDLY READ THE FULL STORY HERE▶

SERAP filed a suit at the Federal High Court in Lagos seeking the withdrawal of the directive and the deletion of the corresponding provisions in the Customer Due Diligence Regulations, 2023….CONTINUE READING

In the lawsuit, SERAP is requesting an order of mandamus to compel the CBN to withdraw the directive, citing its inconsistency with constitutional and human rights principles, particularly freedom of expression and privacy.

The organization argues that the requirement of social media handles for identification lacks a legitimate purpose and may potentially lead to unjustified restrictions on citizens’ rights.

SERAP emphasizes that existing identification means, such as passport, driver’s license, Bank Verification Number (BVN), and Tax Identification Number (TIN), are sufficient for Know Your Customer (KYC) purposes, making the social media data collection unnecessary and intrusive.

The organization highlights that the directive could give banks and financial institutions excessive discretion and raises concerns about privacy infringement.

By filing the lawsuit, SERAP aims to prevent the enforcement of the directive, ensuring the protection of Nigerians’ constitutional rights to freedom of expression and privacy.