Nigeria lifts suspension on cheque transactions

By Kokumo Goodie, Nigeria

The Central Bank of Nigeria (CBN) has lifted the suspension it imposed on cheque transactions in the wake of the lockdown caused by the rapid spread of COVID-19.

One of the lenders, in a note to its customers, said: “Further to our earlier communication on the temporary suspension of cheque clearing in Nigeria which was instituted on the 31 March 2020 by Central Bank of Nigeria (CBN), we are pleased to inform you that the CBN has now lifted the suspension.”

To accommodate users of cheques all cheque instruments will now pass through the clearing system effective from 28 April 2020. 

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