Experts Warn of Data Protection Breaches for Fintechs and Others by 2026

Data Protection Compliance Tightens Amid Rising Cybersecurity Concerns

As adherence to data protection regulations becomes crucial, industries with high-risk profiles, particularly fintech and healthcare, are bracing for intensified scrutiny. This warning comes in light of remarks from Ademikun Adeseyoju, Head of Emerging Services at DataPro, one of Nigeria’s leading credit rating agencies. Evidence suggests that enforcement efforts surrounding data breaches will be unwavering, with significant ramifications for those failing to comply.

According to Adeseyoju, breaches can lead to severe penalties orchestrated by the Nigeria Data Protection Commission (NDPC). Major data controllers and processors may face fines up to ₦10 million or 2% of their annual gross revenue—whichever is greater. Smaller entities are not exempt; they risk fines reaching ₦2 million or 2% of annual revenue. The NDPC’s emphasis on enforcing compliance indicates a notable shift towards accountability, particularly in sectors with elevated risks.

Highlighting upcoming initiatives, Adeseyoju announced the commencement of the 2026 Privacy Week, centered on the theme “Privacy in the Age of Emerging Technologies: Trust, Ethics, and Innovation.” This week aims to address the evolving data protection landscape in Nigeria, particularly in the aftermath of the 2025 transition from the Nigeria Data Protection Regulation (NDPR) to the comprehensive Nigeria Data Protection Act (NDPA). This transition has transformed compliance from a guideline-based framework to a mandate with firm enforcement actions.

The NDPC is now poised to actively identify and publicly disclose non-compliant organizations, primarily within the financial services sector. Landmark judicial decisions from 2025 affirming the constitutional right to transparency in handling personal data underline the urgency of these developments. Significant damages awarded to data subjects for breaches illustrate that the size of an organization provides no immunity from accountability.

Additionally, regulatory settlements involving multinational technology firms set new standards for data processing and behavioral advertising, establishing a high bar for compliance. As the cybersecurity landscape evolves, 2025 witnessed a notable uptick in cyber threats, with attackers increasingly focusing on identity-driven assaults, expertly targeting valid credentials rather than relying solely on traditional exploits.

In this context, robust access management has become indispensable for corporate resilience. As organizations look forward to 2026, DataPro predicts that ownership of privacy will shift to boards and executive management. Data protection will evolve from being solely an IT concern to a core governance issue, necessitating regular risk assessments and allocated budgets.

Moreover, businesses should prepare for a probable rise in individual claims and constitutional privacy actions, emphasizing the importance of being “litigation ready.” Maintaining records of data processing and bolstering internal controls will be crucial. As a licensed Data Protection Compliance Organization, DataPro is equipped to assist firms in fulfilling their compliance obligations for 2026, leveraging over three decades of regulatory expertise.

The evolving landscape underscores the importance of understanding the MITRE ATT&CK framework, which provides insight into potential tactics and techniques employed in various cyberattacks. This includes initial access methods through phishing or exploitation of vulnerabilities, persistence techniques to maintain access, and privilege escalation to gain unauthorized control within systems. As the complexity of cyber threats continues to mount, understanding these frameworks is essential for any organization committed to safeguarding its data and maintaining compliance.

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