Alexandria Ferguson
TITLE: Banks to Identify Customers by Fingerprints Next Year
AUTHOR: IFEANYI ONUBA
SOURCE: The Punch
The Central Bank of Nigeria, along with the Bankers Committee, agreed to a solution pact with a German Firm, Dermalog, on Tuesday. The solution stated that all payments would be based on fingerprints. According to the Governor, Mr. Lamido Sanusi, this movement will help to revolutionize the country’s payment system. Beginning in 2014, bank customers will be identified by their fingerprints. While speaking at the signing of the agreement, Sanusi explained that the system would be in effect on February 14, 2014. Sanusi said this movement would help to provide a biometric database that would serve the purpose of authentication. This movement will also address the issues of money laundering, fraud, credit extension, and financial inclusion.
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