SERAP takes CBN to court over regulation asking for social media handles of bank customers

The Socio-Economic Rights and Accountability Project (SERAP) took the Central Bank of Nigeria (CBN) to court for failing to end regulations requiring banks to provide their customers with social media IDs.

SERAP revealed this on Sunday in a statement by its deputy director, Kolawole Oluwadare.

DAILY POST recalls that in June, apex bank issued a 2023 Customer Due Diligence Regulation directing banks to obtain customer social media information for identification purposes.

But, in lawsuit number FHC/L/CS/1410/2023 filed last Friday in the Federal High Court in Lagos, SERAP requested that the court compel CBN to withdraw the settlement.

According to SERAP, CBN already has many ways to verify customers, including bank verification number, tax ID, driver's license and passport.

SERAP added that the implementation of the regulation would interfere with the free speech and privacy rights of bank customers.

"The CBN's regulations and directive to banks and other financial institutions would impermissibly restrict constitutional and international rights to freedom of expression, privacy, and victims' rights to justice and effective remedies."

"Requiring social media IDs or customer addresses as a means of identification would have a disproportionate chilling effect on Nigerians' effective enjoyment of their rights to freedom of expression and privacy online."

Meanwhile, DAILY POST has gathered that no date has been set for the hearing of the lawsuit.