Undeniably, it is not this altruistic function of aiding the recovery of stolen phones that is worrisome to several Nigerians, it is the obvious alternative functionality that causes concern – the ability to track the owner of a device who’s in possession of the device.
The NDPR is a welcome development in view of Nigeria’s conscious efforts at being awakened to its responsibilities as regards issues of data protection. Nigeria must be applauded for imbibing universal best practices as they relate to the various principles of data protection as evidenced by the similarities existing between the NDPR and the GDPR.
As the use of IoT products increases, legal issues such as data protection, software licensing, cybersecurity, and e-contracts arise. This research paper seeks to analyze and review the growth of IoT in the technology space, particularly in Nigeria, the issue of data protection, as well as key regulations. Lastly, the paper attempts to answer the question of who bears liability in the event of a breach of data privacy and unlawful access to the digital footprint.
In terms of economics, the introduction of these new technologies has the potential to restrict, if not completely eliminate, the benefits of their beneficial impacts.
The Organisation for Economic Co-operation and Development (‘OECD’) identified the need for a multi-national approach to redefining PE, and proposed some models under their Base Erosion and Profit Sharing Projects (‘BEPS’).
Cryptocurrencies are not without their challenges however, for instance, they have exhibited periods of extreme volatility, which limits an asset’s ability to fulfill two of the classic functions of money to wit; to act as a stable store of value that people can hold and use predictably in the future, and to serve as a meaningful unit of account that can be used to assign a comparable value of goods and services.
Indeed, it is believed that Ponzi schemes and indeed all other fraudulent practices in breach of capital market rules can ideally be addressed by the deployment of Regtech systems that leverage advanced data analytics and artificial intelligence to generally identify suspicious financial dealings or activities on which such Ponzi schemes thrive.
Software licensing allows a Licensee to legally use software, the usage of which would otherwise have been a copyright breach. A software license grants usage rights to an end-user and defines the scope and extent to which an end-user can deploy the software of an owner subject to consideration.
Although Nigeria has no law specifically mentioning the preservation of electronic data in litigation, the general obligation to do so can be found in the provisions of the Rules of Various Courts, the Evidence Act, 2011 and the Rules of Professional Conduct, 2007. It is important to consider each of these in relation to the specific matter of preservation of electronic information.