Data privacy is a business function. Complying with the Nigerian Data Protection Regulation (NDPR), therefore, is a critical component in building a successful contemporary business.
Investment in data privacy and protection yields a great return by protecting the company’s physical assets, personnel assets, IT assets, and operational assets. Investing in data protection compliance helps a company build business resilience. Also, being compliant with NDPR protects companies from reputational damage or fines.
Unfortunately, many Nigerian companies ignore the importance of data protection. They don’t see it as a worthy investment.
What’s worse, some companies think that by having a privacy/cookies policy on their website, they are data privacy compliance. As much as privacy and cookies policies are part of the data compliance journey, they are the least of what is to be done. Data protection compliance is far more than that.
Data protection compliance investment includes but is not limited to: having the standard privacy and cookies policies, safeguarding the rights of your data subjects, having the best cybersecurity measures in place to protect data and prevent a data breach, identity theft, data manipulation, loss of money, and having the right policies in place.
In a global perspective, the United States early this year, 2020, banned immigrants from Nigeria as a result of the country’s failure to comply with its established identity-management and information-sharing criteria. As reported by TheCable, a third party company currently holds Nigeria’s passport database causing “problematic” information flow between Nigerian immigration and the Interpol. This shows that we are lagging behind when it comes to data privacy, highlights the fact that companies around the world will only deal with companies that understand the importance of having a robust data protection framework and reiterates the fact that companies need to be compliant with NDPR at the minimum.
This means two things: data protection builds brand reputation and gives any Nigerian company the global competitive edge.
Your data protection compliance journey begins with a simple step, and that’s contacting us today via info@mireneglobalconsults.com.ng