Court Endorses CBN Policy On Social Media Handle As Part Of Customer Due Diligence 

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The Federal High Court in Lagos has ruled in favour of the Central Bank of Nigeria in a suit filed against it on an allegation that section 6(a) (iv) of the CNB Customer Due Diligence Regulation 2923 violated his constitutional right to privacy.

Justice Nnamdi Dimgba of the Federal High Court, made the ruling recently while stating that CBN is constitutionally empowered to demand and collect the social media handles of their customers as part of the standard Know-Your-Customer procedure, saying it is not a breach of the right to privacy.

In July 2023, one Chris Eke filed a suit against CBN through his counsel, Olubunmi Abayomi-Olukunle at the federal high Court Lagos, challenging the CBN’s regulation requiring banks to request for social media handles of their customers as part of customer due diligence.

According to him, the request for social media handles is unconstitutional and inconsistent with section 37 of the 1999 Constitution.

In its defence, the CBN represented by its lead counsel, Prof. Fabian Ajogwu (SAN) of Kenna Partners, with OM Atoyebi (SAN) filled in a response challenging the Court’s jurisdiction to entertain the suit.

One Chris Eke has on against the CBB on an allegation that section 6(a) (iv) of the CNB Customer Due Diligence Regulation 2923 violated his constitutional right to privacy.

on a suit filed by a Lagos-based lawyer, Chris Eke, seeking an order stopping the apex bank from demanding bank customers’ social media handles.

Ajogwu argued that the CBN regulation was issued in good faith in line with the provision of the CBN Act 2007 and that the suit was lacking in merit having failed to provide credible evidence in support of his case. 

He also argued that the social media handles of an individual are publicly available in the public domain.

In his judgment, Justice Dimgba agreed with CBN’s argument, he held that the CBN preliminary objection had merit, and he subsequently struck out the suit.

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