Banks Dump Old Cheques, Customers To Obtain Revised Leaflets

Banks have notified customers that effective today, the old cheque leaflets will no longer be acceptable for clearing.

They also urged the customers to get the new revised cheque standard leaflets introduced by the Central Bank of Nigeria.

Earlier, the Central Bank of Nigeria had extended the phase-out date for old cheque books from January 1 to March 31.

The banking regulator said this became imperative due to the effect of the COVID-19 pandemic.

In a circular, the CBN stated, “The parallel run, in which old and new cheques are allowed to co-exist, will end on March 31 and only new cheques will be allowed in the clearing system from April 1, 2021.

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