The move, according to the Governor, CBN, Mr. Lamido Sanusi, will help to revolutionise the country’s payment system. For instance, unlike the current practice where different instruments are used as means of identification, bank customers will from 2014 be identified through their fingerprints.
Sanusi, while speaking at the signing of the agreement, which was held at the central bank’s headquarters in Abuja, noted that the system would become operational on February 14, 2014. The move followed the recommendation of a sub-committee chaired by the Group Managing Director, Zenith Bank Plc, Mr. Godwin Emefiele.
The committee, made up of the Group Managing Directors of Access Bank Plc, First Bank of Nigeria Limited, United Bank for Africa Plc, Union Bank of Nigeria Plc and Skye Bank Plc, had shortlisted Dermalog as the company to develop a database for the banking sector. Emefiele said, “The company that was awarded the contract has been given a very ambitious deadline, and before the contract was awarded, it agreed that it would deliver in 90 days.
Sanusi said, “For a long time, we have been waiting for the national identity card system and progress is being made, and I will like to use this opportunity to let everybody understand that the banking industry project is not in any way incompatible with the national identity process.”
Culled from Punch Nigeria
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