BVN: CBN Announces Plans To Replace ATM Code With Biometrics.

The Central Bank of Nigeria (CBN) has, over the weekend, stated that with the Bank Verification Number (BVN) in place, biometrics will soon be used for transactions on the Automated Teller Machine (ATM) instead of the existing pin code.

The Chairman, Nigeria Electronic Fraud Forum (NeFF), Dipo Fatokun, ‎made this known during the Year 2017 annual retreat of the Nigeria Electronic Fraud Forum (NeFF) held at the Best Western Plus Hotel, Iyaganku, Ibadan, Oyo state capital.

He made this known at the retreat with the theme: “Operationalising a Four Sided Approach to Preventing Fraud” were top officials of the Economic and Financial Crimes Commission (EFCC), the US Consulate, Lagos, Consumer Protection Council (CPC) ,Union Bank of Nigeria Plc, Access Bank, First Bank, Mobile Money Operators, among other stakeholders in the financial sector of the nation’s economy.

According to Fatokun, introduction of biometrics‎ into the banking system was part of the effort of the CBN to ensure successful fight against electronic fraud.

His words; “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.

“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 devises are very expensive because of the technologies involved but I am sure, we shall get there soon.”

Comments

“I Want To Help Their Careers”- Blaqbonez Brags About Collaboration With Wizkid, Burna Boy & Davido

Nigerian rapper, Emeka Akumefule popularly known as Blaqbonez has made a very shocking revelation about his proposed collaboration with Wizkid, Burna Boy and Davido. Blaqbonez , asides from being the “Greatest rapper in Africa” is known for his bold controversial statements online. He recently weighed in on the ongoing beef between his boss, MI Abaga and Vector stating that the real genesis of the beef was from Vector’s side and this caused a huge stir on the internet . Blaqbonez however, has made another statement that is likely to put him in a bad position with fans. In a recent interview, the “Mr Boombastic” rapper explained that he intended on putting Wizkid , Burna Boy and Davido on a song just for them to showcase their talents and give them an opportunity to show their real talent to the world. He spoke with an air of authority while making the statement which means he places himself higher than the mentioned artiste...

Leaving your kids with their grandparents could be dangerous

Leaving your kids with their grandparents could be bad for their health and may even increase their risk of cancer, scientists have warned. Grandmothers and grandfathers spoil their grandchildren with sweet ‘treats’ and massive helpings of fattening food, a new review claims. They also allow them to laze about inside, playing video games or watching TV, instead of running around outside, it is alleged. And they reportedly tend to smoke in front of the kids, exposing their young lungs to second-hand tobacco smoke and setting a bad example. Scientists found that the risks were “unintentional”. The extraordinary claims are based on a review of research into the influence grandparents have on lifestyle factors that can sow the seeds of cancer in later life. Lead author Dr Stephanie Chambers, of the University of Glasgow’s Public Health Sciences Unit in Scotland, said: “While the results of this review are clear that behaviour such as exposure to smoking and regularly tre...

Husband and wife? Simi Kneels Down Before Her Boyfriend, Adekunle Gold On Stage (Watch Video)

During simi album concert, See Me Live. Simi kneels before her boyfriend on stage as they both perform together and this got the fans screaming. Here is the moment Simi knelt down for her alleged boyfriend, Adekunle Gold during their performance last night at her album concert in Hard Rock Cafe in Lagos. Watch the video below:-

Gist Coven

Search This Blog