The Central Bank of Nigeria on Friday inaugurated Bank Verification
Number to revolutionise banking and payment systems in the country.
The BVN is a biometric authentication of bank customers using Point of Sale and Automated Teller Machines.
The biometric authentication is meant to address the safety of customers’ funds and avoid losses through compromise of Personal Identification Numbers.
Governor of the CBN, Malam Sanusi Lamido Sanusi, said at the launch in Lagos that banks would have captured biometric details of all customers nationwide within the next 18 months.
He said the CBN would start to issue circulars to banks to inform their customers to come in and register for the biometric authentication by next week.
He said the platform would attract no charges, adding that it would allow banks to enroll and verify the identity of each customer from any point of transaction device.
The BVN is a biometric authentication of bank customers using Point of Sale and Automated Teller Machines.
The biometric authentication is meant to address the safety of customers’ funds and avoid losses through compromise of Personal Identification Numbers.
Governor of the CBN, Malam Sanusi Lamido Sanusi, said at the launch in Lagos that banks would have captured biometric details of all customers nationwide within the next 18 months.
He said the CBN would start to issue circulars to banks to inform their customers to come in and register for the biometric authentication by next week.
He said the platform would attract no charges, adding that it would allow banks to enroll and verify the identity of each customer from any point of transaction device.
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