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Home Business News Politics

Are We All Guilty? Bank Customers Issued Dud Cheques Worth N166billion In 2012

Ugodre Obi-chukwu by Ugodre Obi-chukwu
July 15, 2013
in Politics
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Cheques

 

The Central Bank of Nigeria, CBN, Wednesday, said banks’ customers across the country issue N166 billion worth of dud cheques in 2012.

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Commonly referred to as bounced or dishonoured cheques, dud cheques are cheques that banks cannot honour because there is no money in the account of the customer that issued it.

To curb this malpractice, CBN said that henceforth, it would forward the names of customers that issue such cheques three times to Economic and Financial Crimes Commission, EFCC.

 

Vanguard: Customers issued N166bn dud cheques in 2012 – CBN

 

Tags: CBN NigeriaNews Review
Ugodre Obi-chukwu

Ugodre Obi-chukwu

Ugo Obi-Chukwu "Ugodre" is the Founder, Publisher, and Chief Analyst of Nairametrics, a leading business and financial news online platform in Nigeria. Ugo is also the Chief Editor of the Nairametrics “Blurb” Opinion pages. Follow Ugodre on Twitter @ugodre and Instagram @ugodre Email: ugodre@nairametrics.com

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