The Central
Bank of Nigeria (CBN) says biometrics will soon be used for transactions on the
automated teller machine (ATM).
Pin codes
are currently being used.
Dipo
Fatokun, chairman, Nigeria Electronic Fraud Forum (NeFF) and CBN director of
banking and payment system, made this statement at 2017 annual retreat of the
Nigeria Electronic Fraud Forum (NeFF) in Ibadan during the weekend.
Fatokun said
the introduction of biometrics would help in the fight against electronic
fraud.
He said
sharing ATM pin codes with a third party is against the policy of banking
sector but could not be avoided in some circumstances especially in situations
where the account owner is not literate or incapacitated.
“Your pin
and account details are not supposed to be disclosed to third person but as you
rightly said, we have some people who are not literate or incapacitated and
that makes them to disclosing their details to third party,” he said.
“What we are
canvassing is that in a time soon to come, with the BVN in place, biometrics
will be used for transactions on ATM.
“That means
if you want to transact with your ATM, you will need to use your biometrics.
There is no way you can give your finger to a third party. If that is enabling,
it will make our system to be more secure and make all our transactions to be
validated.
“But
biometric electronic devices are very expensive because of the technologies
involved but I am sure, we shall get there soon.”
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