Regulatory Alerts2019-03-01 | REF: BKS/DIR/CIR/GEN/02/041RE: Circular on the Revised Nigerian Cheque Standard (NCS) and Nigerian Cheque Printers Accreditation Scheme (NICPAS)
The Central Bank of Nigeria (CBN) issued a circular to banks and cheque printers regarding the revised Nigerian Cheque Standard (NCS) and Nigerian Cheque Printers Accreditation Scheme (NICPAS). The CBN extended the implementation timeline of the new NCS/NICPAS 2.0, allowing the new and old cheques to run concurrently for 17 months from April 1, 2019, to ensure a smooth transition and stakeholder sensitization. Deposit Money Banks (DMBs) are required to seek accreditation from the CBN for cheque personalization and engage service providers to prepare their In-Clearing Applications for the new standard.
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