The Central Bank of Nigeria has issued a circular revising the sanctions that apply to deposit money banks and accredited cheque printers or personalizers that infringe the Nigerian Cheque Standards and the Nigeria Cheque Printers’ Accreditation Scheme (NICPAS) 2.0. The update replaces a 2019 sanctions framework and is intended to align the sanction grid with current conditions in the banking industry, in the context of improving the efficiency and safety of the Nigeria Clearing System. The circular refers institutions to an attached schedule setting out the revised sanctions for applicable breaches.
Central Bank of Nigeria 2026-02-10
Central Bank of Nigeria revises sanctions for breaches of Nigeria Cheque Standards and NICPAS 2.0
The Central Bank of Nigeria has revised sanctions for deposit money banks and accredited cheque printers violating the Nigerian Cheque Standards and the Nigeria Cheque Printers’ Accreditation Scheme 2.0. This update replaces the 2019 framework to better align with current banking conditions and enhance the Nigeria Clearing System's efficiency and safety. An attached schedule details the revised sanctions for breaches.