The Central Bank of Nigeria (CBN) on Tuesday lifted the temporary suspension on cheque clearing in the country’s clearing system.
Consequently, normal cheque clearing resumed today April 28 as banks have sent notice to their customers.
In a circular signed by Sam Okojere, director, banking services department, the CBN 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 in some states and the Federal Capital Territory (FCT).
“Deposit Money Banks are encouraged to advise their customers with this directives,” the circular stated.
The CBN had in a circular dated March 30, 2020, suspended temporarily, cheque clearing in the country.
A notice from Fidelity Bank Plc to its customers reads: “Further to our earlier communication on the temporary suspension of Cheque Clearing by the CBN, please be informed that the suspension has been lifted”.