Regulatory Alerts2021-01-05 | BKS/DIR/GEN/02/043RE: Circular on the Revised Nigeria Cheque Standard (NCS) and Nigeria Cheque Printers Accreditation Scheme (NICPAS)
The Central Bank of Nigeria (CBN) issues a circular to banks and cheque printers, clarifying the transition to the new Nigeria Cheque Standard (NCS) and Nigeria Cheque Printers Accreditation Scheme (NICPAS). The CBN emphasizes that only new cheques will be accepted in the clearing system from April 1, 2021, and directs banks to educate their customers to ensure a smooth transition. The extension of the full implementation date to April 1, 2021, is due to the COVID-19 pandemic's impact on the project.
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