The Socio-Economic Rights and Accountability Project (SERAP) has urged the acting governor of the Central Bank of Nigeria (CBN) Mr. Folashodun Shonubi 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.”
In a letter, the group also requested a withdrawal of “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.”
The letter which was signed by the SERAP deputy director, Kolawole Oluwadare stated that the CBN directive, requiring banks to obtain details of customers’ social media handles violates Nigerians’ right to freedom of expression and privacy and is “inconsistent and incompatible with the rule of law.”
The letter further emphasized the direct impacts of the regulation as inhibiting Nigerians from freely expressing their human rights online and the possible misuse of such information for political and other unlawful purposes.
Analyzing and questioning the “purported aim” of the regulation, SERAP said, “the CBN fails to show how details of customers’ social media handles or addresses would assist banks and other financial institutions to effectively implement and comply with the laws and regulations relating to customer due diligence” concluding that this requirement by the CBN “does not serve any legitimate aim”.
Establishing its cause for a “heightened concern of overreach,” the letter pointed out the fact that there are sufficiently other means of identification available to the CBN and other financial institutions such as passports, Driver’s License, Bank Verification Number (BVN), and Tax Identification Number (TIN), which have already been required.
SERAP therefore implored the CBN to comply with its recommendations or the CBN would be compelled to do so. The letter read; “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.”
The letter was dated 24th June 2023.
