CBN Announces Temporary Suspension of Cheque Clearing in the Nigerian Clearing System

Proshare

Tuesday, March 31, 2020 /09:44 PM / By CBN / Header Image Credit: EcoGraphics

 

Please recall that the first index case of COVID-19 was recorded in Nigeria on 27th of February, 2020 and since that date, there has been some level of increase in the number of confirmed cases in the country. The President, through a nationwide broadcast yesterday, announced a locked down in Lagos and Ogun States and the Federal Capital Territory for two weeks in the interim, starting from 11:00 p.m. of March 30, 2020 as a means of combating the spread of the virus and to ensure the safety of all Nigerians.

 

In view of these recent developments and in furtherance to the Bank's effort to ensure hitch-free clearing and settlement activities, the Central Bank of Nigeria hereby suspend, until further notice, the clearing of cheques instruments in the Nigerian Clearing System starting from March 31, 2020.

 

For the avoidance of doubt, no fresh cheque instrument will be allowed to pass through clearing system on March 31, 2020. Only returned cheque would be treated on the said date.

 

However, settlement activities for electronic instruments will continue to hold during this period of suspension.

 

Please be guided accordingly.

 

Proshare Nigeria Pvt. Ltd.


Related News

  1. CBN Assures of Undisrupted Financial Services During COVID-19 Lockdown
  2. COVID-19: CSCS Goes Fully Digital, Activates Business Continuity Plan
  3. CBN to Remain Operational While COVID-19 Lasts
  4. COVID-19: Ecobank Launches "StaySafeNigeria" Media Campaign
  5. Anap Foundation COVID-19 Think Tank Presents 'Coronavirus Alert'
  6. COVID-19: CIBN Adjusts Programmes; Holds AGM Through Teleconferencing, Postpones April Exams
  7. COVID-19: Our Compliance with Lockdown and Measures Put in Place To Serve You
  8. AIRTELAFRI Obtains NCC Approval To Acquire Additional Spectrum
  9. Ecobank Nigeria Drives Financial Inclusion; Unveils Xpress Save And Xpress Loan
  10. Zenith Bank Retain Position as Nigerian's most Valuable Banking Brand

 

Proshare Nigeria Pvt. Ltd.

 

Related News - #Coronavirus

  1. CBN Assures of Undisrupted Financial Services During COVID-19 Lockdown
  2. FGN 14 Day Restriction: NSE to Sustain Remote Trading Amidst COVID-19 Pandemic
  3. Europe's COVID-19 Crisis and the Fund's Response
  4. COVID-19 and Commercial Transactions: Some Emerging Legal Issues
  5. Coronavirus to Weaken Eurozone Fiscal Positions amid Recession
  6. COVID-19: President Buhari Announces Lockdown In Lagos, FCT and Ogun for 14days
  7. COVID-19: Why We Need to Stop Trading Now
  8. COVID-19: The Social Implication of a Pandemic
  9. COVID-19: WARIF Tackles Abuse of Women and Girls in Self Isolation
  10. COVID-19: Presidency Debunks Payment of N30,000 Relief Package to Nigerians With Verified BVN
  11. The Infection Diseases (Emergency Prevention) Regulations 2020 - Lagos State
  12. Even the Worst Crisis Creates Opportunities - 6 Trends COVID-19 will Accelerate
  13. African Development Bank Launches Record Breaking $3bn "Fight COVID-19" Social Bond
  14. COVID-19: NNPC, Oil Industry Donate N11bn to Combat Coronavirus in Nigeria
  15. NCDC Issues Guidelines for Employers and Businesses in Nigeria
  16. #Coronanomics: ISDB Redoubles Efforts With $2bn Funding For OIC Members
  17. COVID-19: Joint Statement by the Chair of IMFC and the Managing Director of the IMF
  18. #Coronanomics: Global Creative Industry Receives $100m Funding From Netflix
  19. CAC Issues Guidelines on Holding of AGMs of Public Companies Using Proxies
  20. COVID-19: CSCS Goes Fully Digital, Activates Business Continuity Plan
  21. CBN Governor's Speech At The Nigerian Private Sector Coalition Against COVID-19
  22. BUA Group Donates N1bn to Support COVID-19 Response
  23. CBN Suspends FX Sales to BDCs Until Further Notice
  24. The Nigerian Economic Stimulus Bill 2020 - How Much Cash Would Your Business Get?
  25. #Coronanomics: Understanding A Virus From An Islamic Economic Perspective - Dr. Aliyu Muhammad
  26. COVID-19 and AGM by Proxy: Lessons from GTBank Approach
  27. COVID-19 Tax Measures - LIRS Extends Filing Deadline for Annual Returns
  28. COVID-19: AFREXIM Bank Rolls Out $3bn Facility To Support African Member States
  29. #Coronanomics: The Changing Scale of Edtech, Healthtech, and Virtual Work Space In Nigeria
  30. COVID-19: Cyber Risks, Insurance and Us
  31. COVID-19: Joint Statement by the FCA, FRC and PRA
  32. COVID-19: FirstBank Focussed on Solving Education Challenges Facing Parents
  33. Securities Regulators Coordinate Responses to COVID-19 through IOSCO
  34. CBN to Remain Operational While COVID-19 Lasts
  35. COVID-19: Ecobank Launches "StaySafeNigeria" Media Campaign
  36. 39% of APAC Corporates More Exposed to Coronavirus
  37. World Bank and IMF Issue Joint Statement to the G20 Concerning Debt Relief for the Poorest countries
  38. COVID-19: Dangote Rallies Private Sector Operators To Contain Pandemic In Nigeria
  39. COVID-19: Opportunities For The Nigerian Digital Economy - Dr. (Mrs) Omobola Johnson
  40. In It Together: Protecting the Health of Africa's People and their Economies
  41. The Nigeria Emergency Stimulus Bill Passes Second Reading at House of Reps - For The Records
  42. eTranzact International Plc Proposes Rights Issue of 4.67bn Shares
  43. COVID-19 and the New Work Culture: The Financial Implication for Individuals
  44. Anap Foundation COVID-19 Think Tank Presents 'Coronavirus Alert'
  45. CBN Issues Guidelines for the Implementation of the N50bn Targeted Credit Facility
  46. COVID-19: Measures Taken by UK Government to Support Business
  47. COVID-19 Pandemic and the Middle East and Central Asia: Region Facing Dual Shock
  48. COVID-19: CIBN Adjusts Programmes; Holds AGM Through Teleconferencing, Postpones April Exams
  49. FIRS Grants Tax Concessions in Response to COVID-19
  50. The Limits of Heteredox Economics Revealed, MPC Trapped and Has to Hold
  51. SEC Nigeria Issues Advisory On COVID-19
  52. Fiscal and Monetary Responses to COVID-19 Menace: Racing Against Time
  53. COVID-19: Access Bank, Ecobank Bank Leverage Online Channels
  54. Crude Oil: Unsold Cargoes Forces Price Slash
  55. COVID-19: NSE Extends Time to Submit Audited Financial Statement by Dealing Members
  56. COVID-19: Ventures Platform and Lagos State Government Partner in Fight Against
  57. Fragility of State Government Finances
  58. Philanthropic Efforts Towards COVID-19 Containment Globally
  59. Non-Essential Federal Public Servants to Stay and Work From Home to Check Spread of COVID-19
  60. COVID-19: NSE Activates 30-day Remote Work Plan; Remote Trading to Continue
  61. IsDB Supports OIC Countries With $730m To Combat COVID-19
  62. COVID-19: Presidential Task Force Issues Statement; FEC Meetings Suspended Until Further Notice
  63. Quiet Bond Market as COVID-19 Fears Creates Uncertainty Among Investors
  64. The Federal Reserves is Running Out of Options to Stave Off a Coronavirus Depression
  65. ACCESS Releases Update To Key Stakeholders on Coronavirus
  66. COVID-19: NSE Extends Time to File Audited Financial Statement for the Year Ended 31 December 2019
  67. Coronavirus: Oyo State Activates Emergency Operating Centres, Names Incident Manager
  68. COVID-19: Our Compliance with Lockdown and Measures Put in Place To Serve You
  69. COVID-19: CBN, Bankers' Committee To Support Pharmaceutical Coys
  70. Bankers Committee Reviews Impact of COVID-19 On Economy, Announces Support Packages
  71. WHO launches Health Alert service on WhatsApp
  72. Coronavirus Crisis Is Crushing Global GDP Growth
  73. Coronavirus: Firstbank Deploys Measures to Protect Employees, Customers and other Stakeholders
  74. Blunting the Impact and Hard Choices: Early Lessons from China
  75. COVID-19 Outbreak: How is Africa faring?
  76. COVID-19 Pandemic: Ecobank Encourages Customers to Adopt Digital Self-Service Solutions
  77. COVID-19 Pandemic and Latin America and the Caribbean: Time for Strong Policy Actions
  78. COVID-19: NSE Advises Companies to Put Adequate Precautionary Measures In Place Ahead of 2020 AGMs
  79. Can the Nigerian Economy Survive the Virus?
  80. What's Really Happening In Oil Markets?
  81. COVID-19: Lagos and Ogun States Ban High Density Social Gatherings
  82. Banks Bring Down Cost-to-income ratios As Industry Margins Tighten
  83. NCDC Releases Self Isolation Guidance for Nigerians
  84. COVID-19: CBN to Inject N1trn Stimulus Across Critical Sectors of the Economy
  85. Coronanomics: ICIEC Pledges $150m In Insurance Coverage For OIC Members
  86. Coronanomics: Figuring Out CBN's Recent Policy Intervention
  87. Oil Price Plunge to Pressure US Energy States and Locals
  88. Coronavirus to Weaken Sovereign Fiscal Positions; Track Record Matters
  89. FG Restricts Entry Into Nigeria from 13 Countries; Suspends Issuance of Visa on Arrival
  90. UK Foreign Office Issues Travel Advice Against Non-Essential Travel Worldwide
  91. Fed Actions, US Banks Discount Window Use Prudent Amid Turmoil
  92. CBN Policy Measures In Response to COVID-19 Outbreak and Spillovers
  93. Coronavirus Containment Actions Pose Material Risk to Global Structured Finance
  94. Federal Reserve Cut Rates to Support the Flow of Credit to Households and Businesses
  95. World Bank Group Increases COVID-19 Response to $14bn To Help Sustain Economies, Protect Jobs
  96. There Is No Systemic Risk - Feedback From Goldman Sachs' Conference Call Held Sunday
  97. Coronavirus Containment Actions Pose Material Risk to Global Structured Finance
  98. Africa CDC Policy Recommendation for AU Meetings and Travel During COVID-19 Outbreak
  99. Africa CDC Guidance on Community Social Distancing During COVID-19 Outbreak
  100. COVID-19 and the Nigerian Economy: Backed to the Wall
  101. Coronanomics: Inside Nigeria's Stock Market Response
  102. Coronavirus: IsDB President Calls For Coordinated Efforts To Tackle Pandemic
  103. Coronavirus: FG to Review Budget as Oil Price Plunges
  104. Potential Impact of the Coronavirus Epidemic: What We Know and What We Can Do
  105. World Bank Group Announces Up to $12bn Immediate Support for COVID-19 Country Response
  106. China's Official Manufacturing Index Crashed from 50.0 to a Record Low of 35.7 In February 2020
  107. FG Inter-Ministerial Meeting Reviews Strategies On Containing Coronavirus
  108. Arbitrary Increase in Prices of Protective and Hygiene Products on Account of Coronavirus Concerns
  109. Coronanomics: Understanding The Darker Side of A Virus's Economic Downside
  110. Coronavirus: Establishing The Nexus Between A Bug and Global Equity Markets
  111. WHO Director-General's Opening Remarks at the Media Briefing on COVID-19
  112. First Case Of Coronavirus Confirmed In Lagos
  113. COVID-19 Refinancing Risk Elevated for 6% of Rated China Corps
  114. Global Ports Vulnerable to Coronavirus-Related Volume Declines
  115. The First Innovative Corporate Bond Supporting Anti-Epidemic Is Given The Green Light To Issue
  116. Coronavirus May Add to Liquidity Strain for Some APAC Corporates
  117. Coronavirus Set to Dampen China's Economic Growth
  118. What Coronavirus Means for Investors
  119. Coronavirus Raises Risks for China Toll Road Operators
  120. Coronavirus Could Push Global Oil Market into Surplus
  121. Airlines Face Growing Pressure From The Coronavirus
  122. Coronavirus' Severity Will Frame Effect on Corps, Sovereigns
  123. China Government Suspend Equity Market Trading to Prevent Sell-Off


Proshare Nigeria Pvt. Ltd.

READ MORE:
Related News
SCROLL TO TOP