 and the National Insurance Commission (NAICOM) signs Memorandum of Understanding(MoU).){kind=link}
The Nigeria Data Protection Commission (NDPC) and the National Insurance Commission (NAICOM) have signed an agreement to collaborate together in order to strengthen data protection and privacy in the insurance sector.
The agreement was signed by the National Commissioner of the NDPC, Dr Vincent Olatunji, on behalf of the NDPC and Mr Olusegun Omosehin, the Commissioner for Insurance and Chief Executive Officer of NAICOM on behalf of NAICOM to officially form partnership between NDPC and NAICOM.
NDPC has been collaborating with NAICOM to deepen data protection and privacy. Also, NDPC has completed the training of NAICOM staff on data protection and privacy.
Dr Olatunji said, “On the 7th of August, we were here to pay a courtesy visit to NAICOM, and introduce what the ecosystem (data protection and privacy) is all about. A lot of the things we agreed to work on have been implemented already, including the training of NAICOM staff. The MoU we are signing today is just a formality as we have already started its implementation”.
“Immediately after this signing, we will have an Implementation Committee to make it work as projected.”
According to the Memorandum of Understanding(MoU), “the parties hereto may actively engage in assessments and initiatives related to Data compliance and Privacy for the Insurance sector. The collaboration aims to thoroughly examine and implement measures that ensure compliance with relevant regulatory instruments governing data protection as applicable to the insurance sector. By working together, NDPC and NAICOM seek to strengthen Data compliance practices and uphold Privacy standards within the Insurance sector, fostering a secure and legally compliant environment for handling Personally Identifiable Information.”