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New cheque book
As an increasing number of banking public switches to digital payment platforms, GEOFF IYATSE writes that the implementation of the Central Bank of Nigeria’s (CBN) new cheque standard, which kicks off on January 1, is received with cold attitude.
From January to October this year, the Nigeria Inter-Bank Settlement System (NIBSS) processed a total of 3.94 million cheques. The volume is equivalent to 60 per cent of the 6.56 million it treated in the same period last year.
The reduction in the volume of cheque transactions this year is understandable. Most of the decisions taken this year were largely influenced by the COVID-19 outbreak, which, among other cautions, called for a reduction in physical contacts. So, it suffices to say that most businesses would opt for transfer rather than the signing of cheques. But the new normal has only reinforced a growing new payment culture. ....

Godwin Owoh , Jide Akintunde , Financial Nigeria International , While The Central Bank , Bank Settlement System , Central Bank , Nigeria Inter Bank Settlement System , Magnetic Ink Character Recognition , Managing Director , Financial Nigeria International Limited , Ken Ife , நிதி நைஜீரியா சர்வதேச , போது தி மைய வங்கி , வங்கி தீர்வு அமைப்பு , மைய வங்கி , நைஜீரியா இடை வங்கி தீர்வு அமைப்பு , காந்த மை தன்மை அங்கீகாரம் , நிர்வகித்தல் இயக்குனர் , நிதி நைஜீரியா சர்வதேச வரையறுக்கப்பட்டவை ,