Socio-Economic Rights and Accountability Project (SERAP) has threatened to sue the Central Bank of Nigeria (CBN) over its new Regulations on customers’ social media handles.
The apex bank, in its new customer Due Diligence Regulations, which is aimed at further deepen the identification process in the banking system, had mandated Financial Institutions to obtain the social media handle, e-mail addresses, telephone numbers, residential addresses, among others from their customers.
But reacting, SERAP urged the Acting Governor of the CBN, Folashodun Shonubi, to immediately delete the provisions in the CBN (Customer Due Diligence) Regulations or face legal action.
In a letter dated June 24, 2023 and signed by SERAP Deputy Director, Kolawole Oluwadare, the organisation said the CBN Regulations and directive to banks to obtain details of customers’ social media address violate Nigerians’ rights to freedom of expression and privacy, adding that it is inconsistent and incompatible with the rule of law.
SERAP said the CBN ought to contribute to the advancement of respect for the rule of law and human rights in the discharge of its statutory functions, and not undermine or violate these fundamental legal requirements and standards.
According to the organisation, the purported mandatory requirement would inhibit Nigerians from freely exercising their human rights online, stressing that if obtained, such information may also be misused for political and other unlawful purposes.
