15 November 2012

Nigeria: Banks to Commence Bio-Metric Data Capture for Customers

Lagos — Nigerian banks under the auspices of the bankers committee will soon commence a bio-metric data capture for all customers in the banking sector.

Managing Director of the Nigerian Deposit Insurance Corporation, NDIC, Mr. Umaru Ibrahim, disclosed this yesterday at the ongoing seminar for finance journalists in Dutse, Jigawa state capital.

According to Ibrahim, the banks are in arrangement to have such a system that will capture the data of all bank customers in the country.

He said the national data system had not been forthcoming and that banks have decided not to continue to wait for the purported national data system by the National Identity Management, but to go ahead with their own data.

He said the banks are considering going into partnership with Pension Fund Operators, PFAs, because they have a similar system in the pension sector.

The banks, according to him, were advised to partner with the PFAs so as not to waste resources and because it will help the banking system.

Ibrahim said that an initiative to promote financial inclusion in Nigeria is the cashless policy designed to bring low-cost, secure and convenient financial services to urban, semi-urban and rural areas across the country.

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