Brands and Marketing
CBN lifts suspension on cheques’ clearing

The Central Bank of Nigeria has lifted suspension on cheques’ clearing by the Deposit Money Banks (DMB).
CBN made this announcement in a notice to all the DMBs and Nigeria Inter-Bank Settlement System issued on Monday, tagged, ‘Temporary suspension of cheque clearing in the Nigerian clearing system’, which was signed by its Director, Banking Services Department, Sam Okojere.
The notice was read in part, it stated “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.
In a related development, Onyxnews Nigeria reported that for Nigeria to effectively tackle the deadly coronavirus, the Peoples Democratic Party (PDP) had asked the Central Bank of Nigeria to suspend utility charges.
The party had asked CBN to immediately open an arrangement with commercial banks for the suspension of charges for electricity, use of ATM cards and reduction of mobile fund transfers as part of the measure to ease the burden of poor citizwns of the country during the COVID-19 lockdown.
In a statement released by the party’s spokesperson, Kola Ologbondiyan on Monday 20, April, the party said the lockdown has subjected majority of Nigerians to extensive use of ATM and mobile transfers for survival, making the suspension of charges on minimal transactions within this period of restriction highly imperative.
-
Education1 week ago
Judge Halts Trump’s Effort to Dismantle Education Department, Orders Reinstatement of Laid-Off Workers
-
Headline1 week ago
FG to Sell Emefiele’s 753 Duplexes to Nigerians, Experts Question Affordability
-
Headline1 week ago
Atiku, Obi Camps Agree on ADC as Coalition Platform to Challenge Tinubu in 2027
-
Headline1 week ago
Nigeria Listed by EU as Priority Country for Intellectual Property Rights Concerns
-
Headline5 days ago
PDP NEC Meeting Postponed Again as Internal Crisis Deepens; Governors, BoT, and Saraki Panel to Meet
-
Headline1 week ago
North-Central APC Forum Endorses Tinubu and Mutfwang, Adopts Green Cap Movement for 2027
-
Headline1 week ago
Yahaya Bello Refutes 2027 Presidential Bid Rumors, Endorses Tinubu
-
Headline7 days ago
Internal Tensions Surface in ADC as It Becomes Platform for Anti-Tinubu Coalition
-
Headline6 days ago
UCL 2025/26: 27 Clubs Secured Qualification Spot Already (FULL LIST)
-
Headline5 days ago
Children’s Day 2025: President Tinubu Calls for National Unity Against Bullying, Reaffirms Child Welfare Priorities