Bank customers to resume use of cheques as CBN lifts suspension

THE Central Bank of Nigeria, CBN has lifted the temporary suspension of cheque clearing in Nigeria.

Cheque instruments will be allowed to pass-through the clearing system with effect from Tuesday, 28 April 2020, the apex bank has said.



    In collaboration with relevant stakeholders, the CBN  has reviewed the need for cheque clearing to accommodate users of cheques as one of the payment instruments in Nigeria.

    The measure has been put in place despite the lockdown in some states and Federal Capital Territory, FCT.

    The CBN has directed Deposit Money Banks in Nigeria to inform their customers of this directives,

    Recall that the apex bank had earlier suspended the clearing of cheque instruments in the Nigerian clearing system with effect from March 31, due to the lockdown mandated by the Federal Government in Lagos, Ogun and the FCT.

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