Economy

CBN Lifts Suspension On Cheque Clearing

The Central Bank of Nigeria (CBN) on Monday announced the lifting of the temporary suspension of cheques clearing in the country, in what it says is part of efforts to develop a safe and efficient payment system in the country.
In a circular signed by Sam Okejere, Director, Banking Services Department, the CBN said the lifting of the suspension is with effect from Tuesday, April 28, 2020, from when “cheque instruments will be allowed to pass through the clearing system.”
The suspension had been announced via a circular dated March 30, 2020, via a circular referenced BKS/DIR/GEN/CIR/07/002.

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