Nigeria: CBN to capture banks' customers biometric data by 2015

Dec 13, 2013

The Central Bank of Nigeria (CBN) announced that the second phase of the biometric project would be launched early next year.

The Central Bank of Nigeria (CBN) announced that the second phase of the biometric project would be launched early next year.


CBN Governor Lamido Sanusi said at the CBN and World Economic Forum that the project, designed to capture biometric details of all banks'
customers nationwide, will end in 2015, CAJ News reports.

He explained that this initiative is expected to provide a centralised platform through which banks can verify the identity of each customer, perform credit checks and authenticate customers from a point of transaction device.

According to Lamido Sanusi,
the biometric project should boost confidence in the banking sector and improve access to credit, as he believes that this lack of trust is the reason why many unbanked people in the country had not embraced banking services.

Other long term objectives include driving financial inclusion, expanding banking services and dealing with the issue of money laundering.

German group Dermalos has been selected by the CBN is November to capture bank customers' biometric data.

The initiative will also be extended to other financial institutions such as microfinance banks and mortgage banks.ADNFCR-2976-ID-801672133-ADNFCR