The phase-out date for old cheque books has been extended from January 1 to March 31 by the Central Bank of Nigeria (CBN), says the extension became essential due to the effect of the COVID-19 pandemic.
CBN disclosed this in a circular that was signed by the Director, Banking Services Department, Sam Okojere, and directed to all Deposit Money Banks, accredited cheque printers/personalisers and Nigeria Interbank Settlement System, on Fridaysaying it had come to its notice that some stakeholders interpreted the circular differently from the intended purpose. Consequently, it had become essential for it to issue clarifications on it, the circular stated.
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