NASD Invites Proposals on NDPR

NASD Plc, which operates the NASD Over-the-Counter (OTC) market, has called on registered data compliance protection officers to submit proposals.

The move is to undertake an evaluation of its data compliance as established by the Nigeria Data Protection Regulation (NITDA Regulation) 2019.

The company in a statement noted this is also in line with requirements to ensure global best practices.

NASD noted that the scope of service required includes: assessment of NASD’s level of compliance with NITDA Regulation and best practice; review of its data processing activities to determine the applicability of NITDA Regulation; implementation of NITDA Regulation in respect of data protection, data processing and privacy’ and submission of detailed report on findings and recommendations.

For prospects, NASD Plc noted that the proposals being submitted are expected to contain: Proposed scope of services and approach; a full profile of the firm and the members of the team who will be responsible for the exercise; and details of similar exercises undertaken.

Others include any other issues to be considered by NASD and a timeline and estimated cost of the exercise.

In terms of submissions and deadlines, NASD said soft copy proposals should be submitted to the mailbox: legalcompliance@nasdng.com before 12:00 noon on Wednesday, July 23, 2020.

The subject of the mail should read Proposal for Data Protection Compliance, the statement said.

Shortlisted firms will then be invited to discuss their proposals with the Management of NASD.