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CBN shifts deadline for legacy banks’ cheques to March

By on January 7, 2013

The Central Bank of Nigeria (CBN) has shifted its set January 2 deadline for the acceptance of legacy banks’ cheques to March 31.

CBN last November instructed all banks and financial institutions to stop accepting cheques from legacy or liquidated banks from January 2, 2013.

Legacy banks include, ETB Limited, Bank PHB Plc, Intercontinental Bank Plc, Spring Bank Plc, Finbank Plc, and Afribank Plc.

They are the banks bought last year after a joint audit carried out by the Central Bank of Nigeria (CBN).

The news is already in circulation and banks have started informing their customers about the new deadline.

According to an email sent by First Monument Bank Plc (FCMB), “The CBN has announced the extension of the deadline for the acceptance of legacy bank cheques (that is, those of Afribank Plc, Bank PHB Plc, FinBank Plc, ETB Bank Limited, Oceanic Bank Plc, and Spring Bank Plc) to March 31, 2013.”

One Comment

  1. Jon Gilchrist

    January 7, 2013 at 3:56 pm

    I wonder if this will be the only extension, or if the deadline for legacy cheque deposits will be extended again.