Socio-Economic Rights and Accountability Project (SERAP) has urged Mr Folashodun Shonubi, Acting Governor, Central Bank of Nigeria (CBN) to “immediately delete the patently unlawful provisions in the Central Bank of Nigeria (Customer Due Diligence) Regulations directing banks to obtain information on customers’ social media handles for the purpose of identification.”
Recall that INFORMATION NIGERIA had earlier reported that the Apex bank instructed commercial banks to attached their costumer’s social media handles to their various bank accounts in effort to cub financial fraud within the banking sector.
However, SERAP also urged the apex bank to “withdraw the Circular number FPR/DIR/PUB/CIR/007/076 of 20 June 2023 mandating banks and other financial institutions to implement and comply with the unlawful mandatory provisions on customers’ social media handles in the CBN Regulations.”
According to Section 6(a)(iv) of the CBN Regulations, banks and other financial institutions “shall identify their customer and obtain information on the social media handle of the customer.” Section 6(b)(iii) contains similar provision.
SERAP’s Deputy Director, Kolawole Oluwadare, disclosed this over the weekend in a statement made available to the public.
READ MORE: CBN Orders Banks To Obtain Social Media Handles Of Customers
SERAP said “The CBN Regulations and directive to banks to obtain details of customer’s social media address violates Nigerians’ rights to freedom of expression and privacy. It is inconsistent and incompatible with the rule of law.”
SERAP also added that “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.”
The group urged that CBN to withdraw the regulations within three days or face legal action.
“We would be grateful if the recommended measures are taken within 3 days of the receipt and/or publication of this letter. If we have not heard from you by then, SERAP shall take all appropriate legal actions to compel you and the CBN to comply with our request in the public interest”, it stated.
