After the bi-monthly meeting held in Lagos on Tuesday, the Bankers’ Committee announced that the biometric registration of bank customers would start on Friday. This new step, the committee disclosed, will help fight against fraud and money laundering. All Deposit Money Banks are to commence the registration of their customers’ details, including their fingerprints on that day.
Speaking with journalists after the committee's 315th meeting, the Group Managing Director, Access Bank Plc, Mr. Herbert Wigwe, the registration would assist in checking financial crimes and also protect bank customers.
“The banking industry, under the auspices of the Bankers’ Committee, has been working to improve the Know Your Customer requirement. The idea is to fight fraud, money laundering and ensure a better customer protection. The initiative will be launched this Friday, February 14,” he said.
“There will be teething problems, but we will learn from it. The biometric initiative is being pursued by the Bankers’ Committee,”
Also speaking on the matter, the Director, Corporate Communications Department, CBN, Mr. Ugochukwu Okoroafor, said the biometric system, when fully operational, would help to improve credit in the economy and boost the nation’s macro-economy.
Nigeria runs on cash; there is no identity. We don’t know who is who. We are now going into identity confirmation. We can now create a credit system that will power our economy.
Banks don’t want to lend because of identity issue. We want to move Nigeria from cash system to credit system that has identity
source: The Punch
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