FINTECH REGULATION AND DATA SOVEREIGNTY: A CRITICAL ASSESSMENT OF ALGORITHMIC CREDIT SCORING UNDER THE NIGERIA DATA PROTECTION ACT (NDPA) 2023
This thesis evaluates the legal and regulatory framework governing FinTech firms' deployment of algorithmic credit scoring under the Nigeria Data Protection Act (NDPA) 2023. It critically examines data sovereignty, algorithmic bias, transparency, accountability, and the consent loopholes present in Section 37 of the NDPA. The research investigates institutional fragmentation across regulatory bodies, specifically the Nigeria Data Protection Commission (NDPC), Central Bank of Nigeria (CBN), and Federal Competition and Consumer Protection Commission (FCCPC). It provides a comparative analysis contrasting Nigerian data governance frameworks with international standards, including the EU General Data Protection Regulation (GDPR) and the EU Artificial Intelligence Act.