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[…] The importance of this right, given Nigeria’s thriving fintech ecosystem, has seen the Central Bank of Nigeria issue operational guidelines within the context of open banking; and Withdraw consent to the processing of personal data at any time. The Act does not provide comprehensive mechanisms for implementing these rights, such as parameters and modalities […]

[…] types of processing such as use, sharing, or both and to which recipients the consent applies to. • Open banking also raises issues with the expiration or withdrawal of consent. Many data protection laws impose rules on organizations regarding the expiration or withdrawal of consent. Open banking scenarios may raise further complexities around obligations […]

[…] ( 4 ) Where the processing of personal data is based on the consent of the data subject, t he data subject shall have the right to withdraw his consent at any time. ( 5 ) The withdrawal of consent under subsection ( 4 ) does not affect the lawfulness of the data processing […]