Banks to capture customers’ biometric data

The project will capture, store and allow access to customers’ data to all banks including the Central Bank of Nigeria (CBN).CBN Governor Sanusi Lamido Sanusi who is also the Chairman of the Bankers Committee said the major issue in the banking industry today in Nigeria is lack of unique customer identification. Speaking at the signing […]

The project will capture, store and allow access to customers’ data to all banks including the Central Bank of Nigeria (CBN).
CBN Governor Sanusi Lamido Sanusi who is also the Chairman of the Bankers Committee said the major issue in the banking industry today in Nigeria is lack of unique customer identification.
Speaking at the signing ceremony of the contract yesterday in Abuja, Sanusi said customers come today with any form of drivers license which they present to the banks and then go to another bank with another form of drivers license which may carry another name or some other declaration and get their accounts opened.
“Biometric gives unique identification because you cannot change your identity. We realised that the first thing we need for any form of transformation in the banking industry is to be able to identify the person we are dealing with”, said Sanusi
The CBN governor said the system will go a long way in addressing the issue of money laundering and fraud and give easy access to loans for customers.
He said the biometric data will also help in improving the customer’s credit worthiness because the data bank will give information on your past records because you cannot go and take many loans at the same time with this system. “Because if the banks lend to you they can be able to trace you wherever you are.
“So it improves the entire confidence around the banking industry; it improves our ability to track, our ability to give you services,” he explained.
 He said the project is not undermining the National ID card project but the banks feel it necessary to start doing something before the commencement of the national project.
“We got a large number of illiterates in Nigeria. If you go to ATM with biometric system with your finger you take your money. You don’t need your card to withdraw, or you go to your bank branch you don’t have your cheque book, with your finger you can withdraw your money.  That is where we are going very soon.
“It is compete transformational and revolutionary and for me the final building block of the transformation of the payment system in the country,” Sanusi assured
The apex bank boss also said that the timeline for the kick off of the project is “within 90 days where all the banks in the country will be connected to one data bank, and some few months to go all over the country to capture every customer in every branch of every bank and then we  go down to the microfinance banks. It is ongoing process but this is just the foundation.”
Chairman of the sub-committee of the implementation of the project and Group Managing Director of Zenith Bank of Nigeria, Mr Godwin Emefiele said the cost of the contract is about N8 billion.
He assured that no customer will be charged any amount for registration.