GTBank, Ecobank, others notify prospects to get new revised cheque leaflets

CBN orders DMBs to set deadline for cheques

GTBank Plc, Ecobank Plc, and Constancy Financial institution Plc amongst others have notified their prospects to get the newly revised cheque leaflets launched by the Central Financial institution of Nigeria (CBN), as outdated leaflets turned invalid for clearing from March 31, 2021.

GTBank, in a mail despatched to its depositors, said, “We want to remind you to request for the brand new cheque guide for GTBank Present Account holders. It’s because, from April 1, 2021, solely the brand new cheque leaf might be accepted by all banks nationwide.

“The brand new cheque guide is in step with the New Cheque Normal as suggested by CBN. It has enhanced security measures, a brand new design, and is now accessible for pickup in any respect our branches nationwide.”

Constancy Financial institution, additionally in a mail to its prospects, said, “Following the directive of the Central Financial institution of Nigeria for banks to implement the revised cheque customary with extra security measures, kindly contact your relationship supervisor or go to our nearest department for a brand new cheque guide in case you are but to acquire one.

The brand new cheque leaflet has the next extra options: Expiry date, two-digit safety code, QR code and customary courting format.”

In the meantime, a message from Ecobank to its prospects said, “We want to remind you that efficient 1st April 2021, the outdated cheque books will not be accepted via the cheque clearing system, whereas similar will solely be accepted for in-branch transaction processing solely.

That is additional to the revised Central Financial institution of Nigeria’s round on implementing the necessities of the Nigerian Cheque Requirements and the Nigerian Cheque Printers Accreditation Scheme dated twenty eighth February 2019.

Whereas we advise you to kindly request for the brand new cheque guide (in case you are but to take action) earlier than the cutoff date of thirty first March 2021, we encourage you to make use of our different digital channels so you’ll be able to proceed to seamlessly perform your transactions.”

What it’s best to know

In January, CBN prolonged the phase-out date for outdated cheque books from January 1 to March 31. The apex financial institution had in a round to all Deposit Cash Banks (DMBs), accredited Cheque Printers/Personalisers, and the Nigeria Interbank Settlement System (NIBSS), said that the revised cheque guide will change into totally operational from April 1, 2021.

Nairametrics reported that the apex financial institution directed all DMBs to enlighten their prospects on the revised cheque guide, launched throughout all banks as full enforcement of its utilization will begin on the said date.

CBN said, “The parallel run, during which outdated and new cheques are allowed to co-exist, will finish on March 31. Solely new cheques might be allowed within the clearing system from April 1, 2021.

Full enforcement of the second version of the Nigeria Cheque Normal and Nigeria Cheque Printers Accreditation Scheme model 2.0 will begin 1st April 2021 and the NCS/NICPAS 2.0. Sanction grid might be totally operational on 1st April 2021.”


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