Biometric registration of bank customers commences on Friday

Nigeria's Bankers Committee rose from its 315th meeting and announced that the biometric registration of bank customers would commence on Friday this week. Consequently, Deposit Money Banks will commence the full capture of their customers’ details, including their fingerprints.

“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.”

These are the words of the Director, Corporate Communications Department of the CBN, Mr. Ugochukwu Okoroafor, who said the biometric system, when fully operational, would improve credit in the economy and boost Nigeria's macro-economy.

The Group Managing Director of Access Bank Plc, Mr. Herbert Wigwe, briefed journalists at the end of the bi-monthly meeting held in Lagos. 

He said: "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."