CBN gives banks 18 months for customers’ biometric registration...Then What?

The Central Bank of Nigeria (CBN) has given all banks 18 months to begin and conclude the biometric reg¬istration of all customers across the country.

The apex bank weekend launched the Bank Verifi¬cation Number (BVN) for biometrics identification of customers in the financial industry aimed at revolu¬tionising the payment sys¬tem in the country.

CBN, ( Central Bank of Nigeria ) gives banks 18 months for customers’ biometric registration...Then What?

"....so that no one can buy or sell unless he has the mark, that is, the name of the beast or the number of its name. "  Rev. 13:17

Biometrics uses one’s physical characteristics such as iris, finger print, voice or veins that ensure your real self.

Biometrics are electronic verification tools for on¬line and mobile banking that offer unique customer identification which gives unchangeable identification that helps in Know Your Customer (KYC).

The introduction of bio¬metric authentication is target¬ed at addressing cyber crime, ATM fraud and other kinds of financial frauds as well as to safeguard customers’ funds to avoid losses through compro¬mise of Personal Identification Numbers (PIN).

Responding to journal¬ists immediately after the launch, Sanusi Lamido Sanusi, governor of CBN, said the apex bank would next week issue circulars to banks to inform their customers to come in and register for the biometrics, saying the registration at¬tracts no charges.

On the issue of theft, Sa¬nusi said, “I have just regis¬tered. This is my card. My biometric data is on this card. My picture is on this card, no¬body can steal this identity”.

He said customers can register anywhere whether with the banks or agents, adding that once registered, one cannot register again as the verification will show it.

In his opening remarks, Ade Shonubi, the managing director of the Nigeria Inter-Bank Settlement System (NIBSS), whose company provides the connectivity service, said that the initia¬tive represented a major landmark in the Bankers’ Committee’s efforts at pro-moting financial inclusion drive and deal with money laundering in the system.

Godwin Emefiele, the managing director of Ze¬nith Bank and chairman, Bankers’ Committee sub-committee on biometrics project, said that he was excited that the group met the project deadline.

-sourceThe Mark of the Beast

16And he causes all, the small and the great, and the rich and the poor, and the free men and the slaves, to be given a mark on their right hand or on their forehead, 17and he provides that no one will be able to buy or to sell, except the one who has the mark, either the name of the beast or the number of his name. 18Here is wisdom. Let him who has understanding calculate the number of the beast, for the number is that of a man; and his number is six hundred and sixty-six.