The Central Bank of Nigeria (CBN) has announced that commercial banks found to be using unaccredited cheque printers or personalisers will face a ₦10 million fine and withdrawal of the cheques from circulation, the apex bank said in a circular dated February 10, 2026.
The revised sanctions form part of an updated regulatory framework on cheque printing and clearing issued under the Nigeria Cheque Standard (NCS) and the Nigeria Cheque Printers Accreditation Scheme (NICPAS) 2.0, the bank’s circular said.
In the circular signed by Mr. Hamisu Abdullahi, Director of the Banking Services Department, the CBN said the withdrawal of cheques from circulation and a ₦10 million fine will apply to any commercial bank that engages unaccredited cheque printers or personalisers.
The sanctions grid also states that a repeat offence will attract a ₦20 million fine and withdrawal of such cheques from circulation, the circular said.
The document is addressed to “All Deposit Money Banks, Accredited Cheque Printers/Personalizers” and emphasises the importance of compliance with the NCS and NICPAS 2.0 standards, the release said.
The revised sanctions also include fines for other breaches of the cheque standards.
Accredited personalisers that fail to submit personalised cheque samples for testing and analysis may be fined ₦5 million, and failure to encode cheques properly or meet quality standards can attract a minimum fine of ₦10,000 per instrument, the circular said.
Penalties are also specified for subcontracting printing work inappropriately, introduction of unapproved security features, and other infractions of the standards, with fines and potential accreditation suspension outlined in the document.
According to the CBN, the updated sanctions are intended to increase the efficiency and safety of Nigeria’s cheque clearing system by enforcing adherence to established standards for cheque production and personalisation.
The circular notes that the sanctions grid has been reviewed to reflect current industry conditions and to support strengthened supervision of cheque printing and clearing processes.
