The Central Bank of Nigeria (CBN) has announced that deposit money banks will face fines of ₦10 million for using cheque printers or personalisers that are not accredited under its Nigeria Cheque Printers’ Accreditation Scheme (NICPAS 2.0). This move is part of the apex bank’s effort to strengthen the integrity, security, and efficiency of Nigeria’s cheque clearing system.
In a circular dated February 10, 2026, the CBN outlined that any bank found engaging unaccredited printers risks having its cheques withdrawn from circulation, alongside the fine. Repeat offenders may face heavier penalties of up to ₦20 million, suspension of printer accreditation, or other regulatory sanctions.
The regulations cover not only the accreditation status of printers but also unapproved security features in cheque production, failure to submit cheque samples for testing, and other infractions that compromise the standardisation of cheques in the banking system. In certain cases, fines may be shared between the bank and the printer responsible for the breach.
The CBN emphasised that these measures are crucial for modernising Nigeria’s cheque infrastructure, ensuring all cheques comply with standard security features, and restoring public confidence in the use of cheques as a secure payment instrument.
Banks are being urged to verify the accreditation of all cheque printers and personalisers and adhere strictly to the circular to avoid penalties, as the apex bank intensifies supervision to curb non-compliance and fraud in cheque issuance.
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