The Central Bank of Nigeria (CBN) has lifted the temporary suspension of cheque clearing in Nigeria. The temporary suspension was as contained in an earlier circular dated March 30, 2020.
In the latest circular to all Deposit Money Banks/Nigeria Inter-Bank Settle System, the apex bank said that the lifting is in furtherance of its effort in the development of a safe and efficient payments system in Nigeria. The lifting means that cheque is now restored as one the payment instruments, despite the lockdown of some states and FCT.
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