CBN’s revised cheques clearing rules begin Sept 1 To penalise banks for non-adherence to NBCS rules
Outlines eligible financial instruments for clearing purposes Motolani Oseni, Lagos The Central Bank of Nigeria (CBN) has set a 5-year timeline for banks to keep physical cheques presented by customers after which they may be disposed. The new rules become operational September 1, 2018. This was contained in the revised Nigerian Bankers’ Clearing System https://plus.google.com/+DailytimesNgr/posts
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At PDP NEC meeting
(NBCS) Rules released during the week. The apex bank explained that the policy was in line with the exercise of the powers conferred on it under Sections 2(d), 33 (1) (b) and 47(2) of the CBN Act 2007 — to promote a sound financial system, issue guidelines, facilitate the development of an efficient and Continued on page 3
FRIDAY, AUGUST 3, 2018
VOL. 3
NO. 716
N100
Saraki, Tambuwal, others vow to rescue Nigeria from APC g 5
You’re wasting your time, there’s no vacancy in Aso Rock – APC spokesman Banks increase international dollar spending by 200% g 1 Apapa gridlock: Lagos-Ibadan rail project takes off next week
L-R: State Governors: Udom Emmanuel (Akwa Ibom); Samuel Ortom (Benue); Aminu Tambuwal (Sokoto); Darius Ishaku (Taraba); National Chairman of the Peoples Democratic Party (PDP), Prince Uche Secondus; Senator Philip Aduda and other party chieftains welcoming Senate President, Dr. Bukola Saraki (fourth left), to Wadata Plaza, headquarters of the PDP in Abuja... on Thursday.
– Amaechi g 15 Anxiety as police withdraw security details to Madumere g 5 SERAP gives NYSC 7 days to provide documents on Adeosun’s certificate g 3