The Central Bank of Nigeria (CBN) on Friday February 14th 2014 unveiled the Bank Verification Number (BVN) for bank customers nationwide.
The biometric authentication of bank customers is introduced to address complaints of personal identification numbers theft in the industry and also part of efforts to prevent fraud as well as to revolutionise the payment system.
Speaking in Lagos at the launch of the new system, CBN Governor, Mallam Sanusi Lamido Sanusi said banks are expected to capture biometric details of all customers nationwide in the next 18 months.
