December 18, 2017 IBOMLLC Team

Central Bank of Nigeria to replace ATM PIN security with Biometric Identification system

Innov8tiv
Innov8tiv – Blacks In Technology in USA, UK, Caribbean Islands & Africa

The Central Bank of Nigeria (CBN) is set to replace the PIN-based authentication for ATM system, with fingerprint biometric identification.

That is according to a report by the Nigerian Communications Week, after the recently concluded Nigeria Electronic Fraud Forum. During that forum, Dipo Fatokan, from CBN stressed on the need to beef up security with the more secure biometric standards.

Your [ATM] PIN and account details are not supposed to be disclosed to a third person,” said Fatokan. He further pointed out the fact that ATM cardholders who are not able to read or suffer some form of incapacitation must share their banking details with their handler. Sometimes, these handlers go as far as handling for themselves money from such users.

From that angle of argument, it is apparent to see why such a technology is needed; it should have arrived yester-years. Fatokan stresses, “There is no way you can give your finger to a third party,” and therefore makes a case for biometric ID as a logical and secure solution.

However, what about users who don’t have fingers or entire arms? Will they be given the option to …read more

Read more here:: Central Bank of Nigeria to replace ATM PIN security with Biometric Identification system

      

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