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Information Safety legislation will increase investor’s confidence in Nigerian financial system says Pantami
Minister of Communications and Digital Financial system, Professor Isa Pantami has mentioned that the introduction of knowledge safety legislation within the nation boosts the boldness of overseas buyers within the nation’s financial system and propels them to do enterprise in Nigeria.
The Federal Government Council (FEC) on Wednesday permitted the transmission of the NDPB Invoice to the Nationwide Meeting as an Government Invoice by way of the workplace of the Minister of Justice and Lawyer Normal of the Federation.
Talking on the occasion organized by the Federal Ministry of Communications and Digital Financial system in collaboration with the Nationwide Information Safety Bureau (NDPB) yesterday in Abuja, the minister famous that buyers count on Nigeria to have a Information Safety legislation earlier than they’ll make investments their cash within the nation in keeping with international greatest apply.
He mentioned, “Right this moment, it’s a international greatest apply to have an information safety legislation in place, in any other case one can find it troublesome to draw so many interventions which are of profit to your nation, secondly, even potential buyers as we speak might ask questions whether or not you’ve got information safety legal guidelines in your nation or not”.
“In keeping with him, “For those who don’t have any information safety legislation in place they’ll really feel uncomfortable to come back to your nation and make investments as a result of as we speak, information is vital.³Whenever we interact with potential buyers, we attempt to persuade them of the necessity of coming to Nigeria to speculate, and so they all the time ask this if we now have information safety legislation, however we now have subsidiary legislation, lots of them do agree with subsidiary legislation and on the identical time, many disagree that subsidiary legislation is ample for them, however in Nigeria is ample”.
He mentioned it’s due to this that the Ministry got here up with the proposal of getting a full-fledged information safety establishment and likewise principal laws of knowledge safety relations in Nigeria.
Pantami mentioned privateness in Nigeria just isn’t solely within the enabling legislation, however reasonably it’s the constitutional proper of the residents, it’s a part of the elemental human rights in Nigeria.
“Nigeria is the primary African nation to affix the developed nations in celebrating worldwide information privateness day.
“The legislation about information safety just isn’t in any approach to punish our residents, however reasonably to create consciousness so that we are going to all be information compliant, that’s the reason it can be crucial, we’re urged to conform, and as we speak due to consciousness creation, reaching out to different establishments, sanctions and interrogating others, you’ll uncover that the compliance fee goes greater.
In his remarks, the Nationwide Commissioner of Nigeria Information Safety Bureau, Dr Vincent Olatunji recommended the Minister for the hassle he made to make sure that NDPB was established and likewise for his efforts in guaranteeing the approval of the Information Safety Invoice by the Federal Government Council (FEC).
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