Soko Lending Company Limited (SokoLoan)

Administrative fine imposed. NITDA, 19 August 2021.

Record ID

ng-nitda-2021-0001

Jurisdiction

Nigeria

Regulator

NITDA

Type

penalty notice

Date decided

19 August 2021

Respondent type

private

Sector

fintech

Violations

privacy invasion, unauthorised data access, customer data misuse

Provisions cited

NDPR 2019

Outcome

administrative fine imposed

Penalty

NGN 10,000,000 (≈ USD 24,000 at the decision date)

Status

final

Source

Official document ↗

Source integrity

SHA-256 c4f1864d4fb0b570…

Record verified

30 July 2026

The facts

NITDA investigated Soko Lending Company Limited after a series of complaints of unauthorised disclosures, failure to protect customers' personal data and defamation of character, including privacy-invading messages sent to Nigerians. The investigation found breaches of the Nigeria Data Protection Regulation, unwillingness to cooperate with the authority, and non-filing of NDPR audit reports through a licensed compliance organisation.

Orders and outcome

NITDA imposed a monetary sanction of Ten Million Naira (N10,000,000) on the company, directed that no further privacy-invading messages be sent to any Nigerian until full compliance is shown, directed the company to pay for a data protection impact assessment conducted by a NITDA-appointed compliance organisation, and placed it on mandatory information technology and data protection oversight for 9 months. The criminal aspects were deposited with the Nigeria Police. Dated 19 August 2021 per the record.

DIGITAL-LENDING · DEBT-SHAMING · ADMINISTRATIVE-FINE

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