CBN Lifts Suspension On Cheques Clearing
The Central Bank of Nigeria has lifted suspension on cheque clearing by the Deposit Money Banks.
It stated this in a circular to all the DMBs and Nigeria Inter-Bank Settlement System issued on Monday, titled, ‘Temporary suspension of cheque clearing in the Nigerian clearing system’, which was signed by its Director, Banking Services Department, Sam Okojere.
Part of the circular read, “In furtherance of its efforts in the development of a safe and efficient payment system in Nigeria, the bank in collaboration with relevant stakeholders has reviewed the 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.
“In view of this development, the bank hereby lifts the temporary suspension of cheque clearing in Nigeria. Consequently, cheque instruments will be allowed to pass through the clearing system, with effect from April 28, 2020.”
The CBN 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 Federal Capital Territory.
You may be interested

Police: A woman was burnt alive when OPC invaded Wakili’s residence
Webby - March 8, 2021The Police in Oyo State have confirmed the arrest of three personnel of the Oodua Peoples Congress (OPC) over the…

“78 In Enugu, 37 In Bauchi” – Nigeria Records 269 New COVID-19 Cases As Total Hits 158,506
Webby - March 8, 2021The Nigeria Centre for Disease Control (NCDC) has announced 269 new cases of coronavirus, bringing the total number of infections…

OPC accuses Police of arresting members in Oyo over capture of ‘Kidnap kingpin’, Wakili
Webby - March 8, 2021IBADAN – The Oodua People’s Congress (OPC) has alleged that four of its members had been arrested by the Oyo…