LAGOS, Nigeria-TUE, APRIL 28 2020-theG&BJournal- The Central Bank of Nigeria (CBN) has lifted the temporary suspension of Cheque Clearing in the Nigerian Clearing System.
The suspension was lifted Monday as President Muhammadu Buhari announced phased re-opening of the economy after a month of lockdown imposed the Federal Capital Territory (FCT), Lagos and Ogun States.
The CBN said it is in furtherance of it is 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 cheques as one of the payment instruments in Nigeria, despite lockdown of some states and the FCT.’’
It said cheque instruments will be allowed to pass through the clearing system with effect from April 28 2020.
‘’Deposit money banks are encouraged to advise the customers of this directive,’’ the CBN said.
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