Revised Cheque Book Becomes Fully Operational Today.

Revised Cheque Book Becomes Fully Operational April 1. -

Starting from today Thursday 1 April, the old cheque book will cease to be accepted at the clearinghouse as the implementation of the newly revised cheque book begins across the nation.

Both the old and the newly revised cheque books have been running parallel but the last day for the old cheque book is Wednesday 31st March 2021.

CBN had in January extended the implementation of the revised cheque book which ought to have started 1 January 2021 and immediately advised all Deposit Money Banks (DMBs) accredited Cheque Printers/Personalised, and the Nigeria Interbank Settlement System (NIBSS), to enlighten their customers on the revised cheque book, introduced across all banks.

Sam Okojere, Director, Banking Services Department, in a circular posted on the CBN website, said it was imperative for the Apex bank to enlighten the stakeholders about the circular, owing to the different interpretation for its intended purpose.

The implementation was earlier fixed for January 1 but extended to April 1, 2021, owing to the outbreak of the Covid-19 pandemic and the impact it had on the Nigeria Cheque Standard (NCS) and Nigeria Cheque Printers Accreditation Scheme (NICPAS) Version. 

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