The
Central Bank of Nigeria and the Bankers Committee on Tuesday sealed a
biometric solution pact with a German Firm, Dermalog, for the
development of a payment system that would be driven by fingerprints.

What
this means is 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.

This move followed the recommendation of

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a
sub-committee chaired by the Group Managing Director, Zenith Bank Plc,
Mr. Godwin Emefiele.

The cost of the project is above $50m
and the banks, in their wisdom and in line with their collaborative
efforts, are going to be sharing the cost of the project, and no
customer is going to be charged for this project.

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