Access Bank to discontinue use of old cheques use by December

By Matthew Denis, Abuja

In compliance with the Central Bank of Nigeria (CBN) directives, the management of Access Bank PLC one of the leading Deposit Money Banks (DMBs) in Nigeria has notified the general public that with effect from the end of the 2023 year, it will discontinue the use of old cheque.

This was contained in a statement seen on the Bank’s website on Sunday.

The statement reads, “Effective 31st December, 2023 we will be discontinuing the use of our old standard cheque in accordance with CBN directive on discontinuation of old cheque for transactions.”

“For your convenience, our various  channels and branches are available for our new cheque book request.”

The bank while appreciating her esteemed customers added that the Accessmore app, Internet Banking Platform *901#, cards and POS machines are accessible for transfer, payment and purchases.

Recall that following expiration of the deadline issues by the Central Bank of Nigeria (CBN) on acceptance of old cheque book, Deposit Money Banks (DMBs) in the country hadin April 1 no longer honour the cheque book.

CBN had in January extended the full implementation of the newly revised cheque book.

Sam Okojere, Director, Banking Services Department, in a circular posted on the CBN website, dated Dec. 9, 2020, referenced BKS/DIR/CIR/GEN/02/042 on the subject, the parallel run, in which old and new cheques are allowed to co-exist, will end on 31st March 2021, and thus only new cheques would be allowed in the clearing system from 1st April 2021.

Full enforcement of the second edition of the Nigeria Cheque Standard (NCS) and Nigeria Cheque Printers Accreditation Scheme (NICPAS) Version 2.0 will commence April 1, 2021, and the NCS/NICPAS 2.0. The sanction grid will be fully operational on April 1, 2021.

“All deposit money banks are (therefore) directed to actively enlighten their customers and ensure necessary provisions are put in place for a smooth migration to the New standard.