AI agents for business finance: what they can and can't do
What AI agents can do in bookkeeping, close, collections and compliance today, where a person must stay in charge, and how to judge a product.
The short answer
Not on a simple request. A Nigerian bank owes its customers a duty of confidentiality, and the CBN Consumer Protection Framework 2016 allows disclosure only with your consent, on CBN direction, under a court order or in the public interest. Some laws give agencies their own powers to obtain records, and banks must report suspicious transactions to the NFIU without telling you, so a court order is not the only route, but there must be a legal basis.
The starting point: your bank must keep your affairs confidential
Nigerian courts apply the rule from the English case of Tournier, under which a bank has an implied contractual duty not to disclose a customer's information without consent. A May 2025 analysis by Banwo & Ighodalo sets out the four classic exceptions, and notes that the Court of Appeal in UBA Plc v CAC held that a breach of the duty attracts damages where it causes loss.
- Compulsion of law
- A court order, or a statute that requires the bank to disclose.
- Duty to the public
- Rare cases where the public interest outweighs confidentiality.
- The bank's own interest
- For example, where the bank sues you over a debt and must show the account.
- Your consent
- You authorise the disclosure, in writing or through the account terms.
The same article notes that the CBN Consumer Protection Framework 2016 bars banks from disclosing customer information except with the customer's consent, a CBN direction, a court order or in the public interest.
When police or an agency ask
A police officer writing to a bank asking for your statement is not, by itself, one of those exceptions. What matters is the legal basis behind the request.
| Route | What the sources say | Do you get told? |
|---|---|---|
| Court order | The clearest basis: it engages the compulsion-of-law exception | Not always; orders can be obtained ex parte |
| Money laundering tracing | MLPPA 2022 section 15(1), as described by Banwo & Ighodalo: a competent authority may obtain an ex parte Federal High Court order compelling a bank to produce records | Usually not at the time |
| Suspicious transaction report | MLPPA 2022 section 7: the bank must report to the NFIU; section 19 makes it an offence for staff to warn the account holder | No, by law |
| A letter or directive alone | In Savannah & Chemical Industries v EFCC, as described by Banwo & Ighodalo, a bank breached its duty by complying with an agency directive without a court order | Often not |
Some agencies also have powers in their own Acts to demand information. We have not set out those section numbers here because we did not check the current text. If you learn that a request was made, ask the bank in writing what legal authority it relied on.
A typical scenario
Example: you sold a car and the buyer later reports a dispute to a police division. An officer writes to your bank asking for six months of your statements. A careful bank will ask for a court order or for the statutory provision the officer relies on before releasing anything. If the bank releases the statement on the letter alone and you suffer loss, the confidentiality cases above are where your complaint starts. If instead the officer comes with an order from a court, the bank must comply, and you may only learn about it later.
Freezing is a related but separate question
Handing over a statement and freezing an account follow similar logic. TEMPLARS' November 2025 paper notes the Court of Appeal decision in GTB v Adedamola (2019) that the EFCC needs a court order to freeze an account under section 34(1) of its Act, while the MLPPA allows a stop order of up to 72 hours. See how long a bank can keep an account frozen.
What the Nigeria Data Protection Act adds
Your bank statement is personal data, so the Nigeria Data Protection Act 2023 also applies. It does not stop lawful disclosures to the authorities, but it gives you rights if data is shared without a lawful basis. According to the NDPC's FAQs, the Commission can order a controller to remedy a violation, pay compensation or account for profits, and can impose a remedial fee; data subjects can also go to court. Read your data rights under the NDPA.
What to do if you think your statement was shared
- Write to the bank's customer service or data protection officer asking whether your information was disclosed, to whom, and on what legal basis.
- Ask for a copy of any court order or written request, unless the bank says the law forbids telling you.
- If the bank refuses to answer or the basis looks weak, escalate within the bank and then consider a complaint to the CBN or the NDPC.
- If police have contacted you, read your rights when police check your phone or bank app and get legal advice before making a statement.
When you give consent without noticing
Account opening forms and app terms often include consent to share information in defined cases. That is a lawful basis if it is clear. When a landlord, employer or embassy asks for a statement, you are the one disclosing; see who can legally ask for your bank statement.
Questions people ask
Can police collect my bank statement without telling me?
They need a legal basis such as a court order or a statutory power. Under money laundering law a bank may be barred from telling you about a suspicious transaction report or investigation.
Is it legal for a bank to release my account details to EFCC?
It can be, where there is a court order or a statutory power. A Nigerian court has held that complying with an agency directive alone, without a court order, breached the bank's duty in that case.
Can I sue my bank for disclosing my account information?
The Court of Appeal has held that breach of the confidentiality duty attracts damages where it causes loss. The NDPA also gives remedies through the NDPC and the courts. Take legal advice.
Does the NDPA stop banks from sharing data with police?
No. It does not block lawful disclosure, but it requires a lawful basis and gives you rights if data is shared without one.
Sources
- Mondaq (Banwo & Ighodalo): CBN v Ochife and post-judgment account discovery, 4 May 2025 · accessed Oct 2026
- Money Laundering (Prevention and Prohibition) Act 2022 (RegAlert reproduction) · accessed Oct 2026
- TEMPLARS ThoughtLab: Freezing bank accounts in Nigeria, Nov 2025 (PDF) · accessed Oct 2026
- Nigeria Data Protection Commission: FAQs · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.