Regulatory Alerts2026-02-11 | BKS/DIR/CIR/CON/001/001Revised Sanctions on Defaulters of the Nigeria Cheque Standard and Nigeria Cheque Printers' Accreditation Scheme (NICPAS) 2.0
The Central Bank of Nigeria has updated its Sanction Grid for the Nigeria Cheque Standard and Cheque Printers' Accreditation Scheme (NICPAS) 2.0 to address current banking realities and improve clearing system safety. This revision introduces specific, intensified penalties for Deposit Money Banks, accredited cheque printers, and personalizers who fail to comply with standards. Infractions now incur direct consequences such as substantial monetary fines, mandatory withdrawal of non-compliant cheques, and suspension or withdrawal of accreditation for repeat or severe defaults.
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