The National Identification Authority (NIA) has officially confirmed that approximately 191 financial institutions, including Universal Banks, Rural Banks, and Savings and Loan companies, have successfully integrated into its data system.

In an interview on the Citi Breakfast Show on Friday, February 2, the Executive Secretary of the NIA, Prof. Kenneth Attafuah, revealed that these institutions have seamlessly connected to the Authority’s system.

This integration, he emphasized, streamlines the process of identity verification for clients by financial entities, enabling smooth fund transfers from bank accounts to mobile money wallets.

The disclosure comes in response to public concerns about fees associated with transferring money between bank accounts and mobile money wallets with identical details.

Head of the Ghana Association of Bankers, John Awuah, attributed these fees to inconsistencies in Ghana Card details between mobile money (MoMo) and bank accounts. He suggested that such discrepancies trigger the system to treat individuals differently, resulting in the application of charges.

Contrary to this, Prof. Attafuah stressed that the shared information includes vital details such as names, birth dates, gender, and nationality, leaving no room for inconsistency.

In the interview with sit-in host Caleb Kudah, Prof. Attafuah specifically mentioned, “I can tell you that the Bank of Ghana, all 24 universal banks in the country, 145 rural banks in Ghana some savings and loans companies, about eight of them and some centres, approximately 14 have been onboarded unto the NIA’s personal verification system platform enabling these institutions to verify the identities of persons who transact business for them in real-time.”

He further elaborated that “as agreed with their regulator that is the Central Bank, we give them personal information that a client is required to give for KYC [Know-your-customer] and in fulfilment of the bank’s anti-money laundering rule. So the personal information that we give includes the surname, the first name, the previous name, date of birth, gender, nationality, residential address, digital address code and telephone number,” Prof Attafuah stated.

He further explained that the NIA, in agreement with the Central Bank, provides personal information necessary for Know-Your-Customer (KYC) compliance and anti-money laundering rules. This information includes surname, first name, previous name, date of birth, gender, nationality, residential address, digital address code, and telephone number.