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7 Critical Steps to Take Now That Banks Can Request Your Social Media Info

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Johnson Ajegbe

In light of the recent Federal High Court ruling that banks can request and verify customers’ social media handles as part of their Know Your Customer (KYC) requirements, Nigerian bank customers need to adapt to this new development. Here are ten important steps customers should consider taking:

1. Review Privacy Settings: Ensure that your social media accounts have appropriate privacy settings. Adjust who can see your posts, personal information, and other details to control your digital footprint.

2. Update Social Media Profiles: Make sure your social media profiles are up-to-date and accurately reflect your identity. This includes using your real name and providing accurate information, as discrepancies could raise red flags during the verification process.

3. Be Mindful of Online Activities: Since banks may review your social media activities, avoid posting content that could be deemed inappropriate or suspicious. Be cautious about sharing personal details or anything that might affect your credibility.

4. Check for Inconsistencies: Ensure that the information on your social media profiles matches the details provided to your bank. Inconsistencies between your social media accounts and your bank records could lead to complications or further scrutiny.

5. Understand Your Rights: Familiarize yourself with your rights regarding privacy and data protection. Knowing what information banks can and cannot demand will help you navigate any requests and protect your personal data.

6. Stay Informed About Policies: Keep up-to-date with your bank’s policies regarding social media verification and KYC requirements. Understanding these policies will help you comply and avoid any potential issues.

7. Prepare for Verification Requests: Be ready to provide your social media handles when opening new bank accounts or updating your KYC information. 

By taking these proactive steps, Nigerian bank customers can better navigate the new requirements and ensure their social media presence does not negatively impact their banking relationships.

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