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Bullion

Keywords

Clearing and settlement, Payment System, Nigeria

Abstract

This paper is designed to examine critically the modern trends in the cheque payments system in Nigeria. In the light of this, the paper is divided into nine parts. The second part of the paper examines the concepts of payment , clearing and settlement. The evolution of cheque clearing in Nigeria is examined in part three. The part four presents the cheque standard in Nigeria. The part five gives the synopsis of cheque payment in Nigeria while the cheque truncation system(CTS) and its benefits and challenges are examined in part six and part seven respectively. The paper concludes with recommendations and conclusion in part eight.

Author Bio

The author is a staff of the Statistics Department, Central Bank of Nigeria

Publication Title

CBN Bullion

Issue

2

Volume

42

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