Updated: CBN lifts suspension of cheque clearing in Nigeria
By
Abiola Odutola
-
April 27, 2020
A Nigerian signing a cheque..
The Central Bank of Nigeria has lifted the temporary suspension placed on cheque clearing in the country with effect from Tuesday, April 28, 2020. This was disclosed in a circular issued by the apex Bank and seen by Nairametrics.
In the circular, which was signed by the Director, Banking Services Department, Sam Okojere, the apex bank explained that in furtherance of its effort in the development of a safe and efficient payment system in the country, it has lifted the suspension.
In collaboration with relevant stakeholders, it added that “there was a need for cheque clearing to accommodate users of cheque as one of the payment instruments in Nigeria, despite the lockdown of some states and the Federal Capital Territory (FCT).”
It stated, “In view of the development, the bank hereby lift the temporary suspension of cheque clearing in Nigeria. Consequently, cheque instruments will be allowed to pass through the clearing system, with effect April 28, 2020.”
Meanwhile, Nairametrics reported when CBN suspended the clearing of all cheque instruments in the Nigerian Clearing System, starting from today March 31st, 2020.
Source:https://nairametrics.com/2020/04/27/cbn-lifts-suspension-of-cheque-clearing-in-nigeria/
By
Abiola Odutola
-
April 27, 2020
A Nigerian signing a cheque..
The Central Bank of Nigeria has lifted the temporary suspension placed on cheque clearing in the country with effect from Tuesday, April 28, 2020. This was disclosed in a circular issued by the apex Bank and seen by Nairametrics.
In the circular, which was signed by the Director, Banking Services Department, Sam Okojere, the apex bank explained that in furtherance of its effort in the development of a safe and efficient payment system in the country, it has lifted the suspension.
In collaboration with relevant stakeholders, it added that “there was a need for cheque clearing to accommodate users of cheque as one of the payment instruments in Nigeria, despite the lockdown of some states and the Federal Capital Territory (FCT).”
It stated, “In view of the development, the bank hereby lift the temporary suspension of cheque clearing in Nigeria. Consequently, cheque instruments will be allowed to pass through the clearing system, with effect April 28, 2020.”
Meanwhile, Nairametrics reported when CBN suspended the clearing of all cheque instruments in the Nigerian Clearing System, starting from today March 31st, 2020.
Source:https://nairametrics.com/2020/04/27/cbn-lifts-suspension-of-cheque-clearing-in-nigeria/
