The Central Bank of Nigeria (CBN) says the revised cheque book will become fully operational from April 1, 2021.
It stated this in a circular to all Deposit Money Banks (DMBs), accredited Cheque Printers/Personalisers, and the Nigeria Interbank Settlement System (NIBSS).
The apex bank directed all DMBs to enlighten their customers on the revised cheque book, introduced across all banks as full enforcement of its usage will commence on the stated date.
It said the clarification became necessary as some stakeholders had been interpreting the circular differently from the intended purpose.
