This is good news for business owners who have been looking for ways to clear their cheques or issue one for clearance. The Central Bank of Nigeria (CBN) has lifted the temporary suspension of cheque clearing in banks as a result of COVID-19.
Four weeks ago, the apex bank, CBN has directed all commercial banks to close down all operations as a result of the global pandemic, COVID-19, to join the federal government stay at home order as to curb the spread of the deadly virus.
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But as businesses continue to suffer and business owners are lamenting, the CBN and the federal government were forced to lift the suspension of cheque clearing to ease the sufferings of some business suffering from lack of funds. That lifting took effect from Monday, April 27th, 2020, and there is more hope for business owners as the federal government has proposed to relax the lockdown in Lagos, Ogun, Abuja and all other states excluding Kano from next week, May 4th, 2020. On the lifting of the suspension of cheque clearing, below is the press release issued to that effect: