Group sues CBN over unlawful regulations on bank customers’ social media

Socio-Economic Rights and Accountability Project has taken legal action against the Central Bank of Nigeria for directing banks to obtain information on customers’ social media handles for identification purposes.

In a press statement released on Sunday by its Deputy Director, Kolawole Oluwadare, SERAP said it filed a lawsuit seeking an order of mandamus to compel CBN to withdraw its directive and delete the provisions of Section 6 of its Customer Due Diligence Regulations, 2023.

SERAP believes that the directive and provisions are inconsistent with the Nigerian Constitution and the African Charter on Human and Peoples’ Rights.

SERAP is also seeking an order to stop the CBN from implementing the provisions of Section 6 of its Customer Due Diligence Regulations, 2023, which mandates banks and other financial institutions to obtain information on customers’ social media handles.

SERAP argues that such a requirement does not serve any legitimate aim and may be used to restrict citizens’ rights to freedom of expression and privacy. The organisation believes that without the relief sought, the CBN will enforce the unlawful directive, which will be a violation of citizens’ rights.

According to SERAP, there are other means of identification, such as passports, driver’s licence, Bank Verification Number, and Tax Identification Number, which banks and other financial institutions already require their customers to provide.

The suit filed on behalf of SERAP by its lawyers, Kolawole Oluwadare and Ms Blessing Ogwuche, read in part: “Obtaining information on customers’ social media handles or addresses as means of identification is more intrusive than necessary.” Punch