The Central Bank of Nigeria has suspended indefinitely the clearing of Cheques in the Nigerian clearing system
The apex bank stated this in a circular released on Monday to all Deposit Money Banks and the Nigeria Inter-Bank Settlement System.
The apex bank said in the circular that the directive became imperative due to the lockdown issued by the President, Muhammadu Buhari in Lagos, Ogun and the Federal Capital Territory.
The bank said in view of the lockdown and in furtherance of its effort to ensure hitch-free clearing and settlement activities, there was a need to suspend the clearing of cheques.
It added that no fresh cheques would be allowed to pass through the clearing system .