Progress in a biometric banking registration scheme designed to tackle fraud and identity theft in Nigeria has seen over 1.5 million customers enrolled since the process was launched in April.
United Bank for Africa has emerged as the bank with the most Bank Verification Number (BVN) enrolments, crossing the 400,000 threshold on 5 December.
Access Bank is lying second with a BVN count of 230,083, while First Bank is third with a BVN count of 228,209, Business Day reports.
In total, 1,540,580 customers have now been enrolled - The Central Bank of Nigeria has targeted 30 June, 2015 for the registration of all existing bank customers.
The BVN initiative, which aims to enhance security, shorten transaction time, and minimise use of cash, cheques and cards, links a customer to biometric photograph, fingerprint and signature data.
A BVN identification card with a computer chip holding the biometric data is issued for collection at designated bank branches.
After the deadline, customers will need to use fingerprint authentication to conduct any financial transaction in any bank.
In October, the CBN also said that by March 2015, the BVN will be required for all transactions valued at N100 million above (US$612,000). By June, any customer without a BVN will be deemed to have inadequate Know Your Customer (KYC) requirements.
Last November, Dermalog Identification Systems signed a US$50 million contract with the central bank to implement the programme.
German supplier Dermalog won the project after a stringent international tender process. It is working with local integrator, CHAMS, on the project and aims to get the initial phase of the project operational within three months.