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New bank cheque books usable from April 1st – CBN

MTB by MTB
January 23, 2021
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The Central Bank of Nigeria (CBN) says revised cheque books of all Deposit Money Banks (DMBs) will become operational from April 1, 2020.

CBN directed all banks, accredited Cheque Printers/Personalised, and the Nigeria Interbank Settlement System (NIBSS) to enlighten their customers.

Sam Okojere, Director, Banking Services Department, gave the advice in a circular on Friday.

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Okojere said based on a CBN memo dated December 9, 2020, referenced BKS/DIR/CIR/GEN/02/042, old and new cheques allowed to co-exist, will end on March 31, 2021.

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“Full enforcement of the second edition of the Nigeria Cheque Standard (NCS) and Nigeria Cheque Printers Accreditation Scheme (NICPAS) Version 2.0 will commence April 1, 2021 and the NCS/NICPAS 2.0. The Sanction grid will be fully operational on April 1, 2021.”

The official noted that the extension of full implementation to April 1 was due to COVID-19 outbreak and its impact on NCS and NICPAS Version 2.

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