Leading consumer lending company, Zedvance Finance Limited has again received the Nigeria Data Protection Regulation (NDPR) compliance status for the implementation of statutory requirements in accordance with its regulatory guidelines.
The NDPR framework was introduced by the National Information Technology Development Agency (NITDA) with the aim of promoting safe practices for transactions involving the exchange of personal data, protecting the rights of natural persons to data privacy, and preventing the manipulation of personal data.
In addition, the guideline is to guarantee that Nigerian businesses remain competitive in international trade while operating within a just legal and regulatory framework for data protection.
Commenting on the retained compliance status, Ever Obi, the Managing Director of Zedvance Finance Limited, asserted that the company has always placed a high priority on being transparent about its privacy procedures and will continue to provide seamless, data-protected financial solutions to all of its new and existing customers.
“We are pleased to have expanded the scope of our pre-existing compliance with the NDPR audit compliance status. Our customers trust in our ability to handle their sensitive information while offering them tailor-made financial solutions within the global best practice,” he stated.
“We believe it’s critical that we go beyond simply declaring our commitment to privacy — we are continually looking for ways to demonstrate that commitment. Retaining the NDPR compliance status is another validation of our commitment to our customers”, “said the Zedvance boss.
The Regulation imposes several responsibilities on data controllers and processors to enable them lawfully obtain and process data.
Data protection compliance involves understanding not only a company’s policies, contracts, and legal engagements. It also requires an understanding of the company’s information technology, security, audit, and operational system.
Lukmon Oloyede, Head of Product Marketing & Brand Communication at Zedvance Finance, also added that since it commenced operations in 2014, Zedvance has provided access to personal and business loans to millions of Nigerians through digital lending channels.
“New and existing customers of Zedvance can access quick and convenient loans of up to N5 million within 3–5 hours through its self-service digital channels.