dud cheques

N166bn dud cheques: Mixed reactions trail CBN’s plan to prosecute defaulters

N166bn dud cheques: Mixed reactions trail CBN’s plan to prosecute defaulters

…Customers seek greater awareness Mixed reactions have continued to trail the revelation by the Central Bank of Nigeria, CBN, of the increasing value of dud cheques issued in Nigeria, which is now over N166 billion. A bounced or dud cheque is an instruction in writing, authorising a bank to make payment against an unfunded or inadequately funded account.