CBN moves to check fraud in banks IN a new move to check fraud in the banking industry, the governor of Central Bank of Nigeria (CBN), Mallam Sanusi Lamido Sanusi, has signed an agreement with a German firm, Dermalog Identification Systems, for the provision of biometric data base for banks. Sanusi, who is also the chairman of the Bankers’ Committee, at the ceremony on Tuesday, noted that the project, the culmination of a two-year long screening exercise, was not in any way incompatible with the Federal Government’s National Identity Card project. “This project is not in any way to say the Bankers’ Committee doubts the Federal Government’s National Identity Project,” Sanusi stated. He said that the project is a collective effort of all banks in Nigeria aimed at capturing the biometric data of all bank customers in Nigeria for the purpose of verification and identification, as well as dealing with fraud. Sanusi, who disclosed that the first phase of the roll-out is expected to commence in three months, added that the banking system will continue to maintain its leading position in bringing innovations to the financial system in the country. He stressed that the project, when it finally comes alive, will improve the apex bank’s other initiatives including Know-Your- Customer (KYC), financial inclusion, as well as pension, credit and access to finance. On the future of the Nigerian payments system, a visibly elated Sanusi said: “Imagine a situation where you don’t need your card to have access to an ATM; that all you need is your finger prints.” Congratulating Dermalog and its Nigerian partners, Chams, for winning the contract, the Bankers’ Committee chairman also thanked the Chief Executive Officers of banks, particularly members of the Sub- Committee on Biometrics, led by the Chief Executive Officer of Zenith Bank, Godwin Emefiele, for their commitment to the project. The Managing Director of Dermalog, Mr. Jan Nack, described the selection process as rigorous, noting that the company and its pertners would do their very best to deliver on what he described as the ambitious time- frame set by the Bankers’Committee. He also disclosed that his company had done similar projects for governments and organisations in Brunei, Cambodia and Malaysia, adding that they would work towards training Nigerians in a bid to hand over skills to them. German Ambassador to Nigeria, Mrs Dorothee Janetzke-Wenzel, also expressed happiness that Nigerians recognised German companies for their efficiency and ability to transfer skills. CBN Deputy Governor (Operations), Mr. Tunde Lemo, commended Governor Sanusi, for exhibiting great courage in transforming the fortunes of the banking industry in Nigeria. He also lauded the Bankers’ Committee for its determination as well as the German firm for its commitment to transfer technology to the Nigerians, whom it will be training. The German company, at the meeting, promised to ensure that the project go live three months from now, when the CBN, head offices of commercial banks and few of their branches would be able to access the biometric system. The high point of the ceremony was the signing of the agreement by Mr. Sanusi, on behalf of the Bankers’ Committee, and Mr. Jan Nack on behalf of Dermalog Identification Systems. Other top executive management of CBN including the three Deputy Governors of the Bank, Chief Executive Officers of some banks, representatives of switching companies were present at the ceremony. #NigerianTribune
Posted on: Thu, 07 Nov 2013 08:59:12 +0000