The Central Bank of Nigeria (CBN) on Tuesday lifted the temporary suspension on cheque clearing in the country’s clearing system.
Consequently, normal cheque clearing resumed today April 28 as banks have sent notice to their customers.
In a circular signed by Sam Okojere, director, banking services department, the CBN 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 in some states and the Federal Capital Territory (FCT).
“Deposit Money Banks are encouraged to advise their customers with this directives,” the circular stated.
The CBN had in a circular dated March 30, 2020, suspended temporarily, cheque clearing in the country.
A notice from Fidelity Bank Plc to its customers reads: “Further to our earlier communication on the temporary suspension of Cheque Clearing by the CBN, please be informed that the suspension has been lifted”.
Hope Moses-Ashike
Hope Moses-Ashike is an Associate Editor, Banking and Finance, with more than a decade of experience reporting on Nigeria’s financial system and broader economy. She closely tracks market movements, monetary policy decisions, company disclosures, regulatory actions, economic indicators, and global developments, and interprets what they mean for businesses, investors, policymakers, and households. Her reporting helps readers understand complex issues such as inflation trends, foreign exchange market dynamics, interest rate decisions, bank performance, and investment risks.
She also covers major international events and periodically travels to Washington, D.C., to report on the World Bank/IMF Spring and Annual Meetings.
Her dedication to financial journalism has earned her multiple recognitions and invitations to high-level professional development programmes. She is an alumna of the International Visitors Leadership Programme (IVLP) in the United States and holds an Advanced Financial Journalism Certificate from the Press Association Training in London, UK. Her other notable achievements include completing the Lagos Business School CMC Programme, the Bloomberg Media Africa Initiative Programme, and a Master Class in Journalism at Rhodes University in South Africa.
