{"id":406108,"date":"2011-04-29T02:51:20","date_gmt":"2011-04-29T02:51:20","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/04\/29\/cbn-sets-june-deadline-for-uniform-bank-account-number-scheme\/"},"modified":"2011-04-29T02:51:20","modified_gmt":"2011-04-29T02:51:20","slug":"cbn-sets-june-deadline-for-uniform-bank-account-number-scheme","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/04\/29\/cbn-sets-june-deadline-for-uniform-bank-account-number-scheme\/","title":{"rendered":"CBN sets June deadline for Uniform Bank Account Number Scheme"},"content":{"rendered":"<div readability=\"85\">\n<p>The Central Bank of Nigeria (CBN) has set June this year as deadline for banks to fully comply with the Nigeria Uniform Bank Account Number (NUBAN) scheme.<\/p>\n<p>This was communicated to banks via a release titled, \u201cPROPOSALS ON THE IMPLEMENTATION OF NUBAN SCHEME (Version 0.4)\u201d.<\/p>\n<p>Among other things, the release contained the NUBAN code for each bank and the implementation modality for the scheme.<\/p>\n<p>It said, \u201cThe CBN released the Guidelines on Nigeria Uniform Bank Account Number (NUBAN) scheme in August, 2010, to achieve uniform customer bank account numbering structure among all Deposit Money Banks in Nigeria, within 9 months.<\/p>\n<p>\u201cNUBAN has great potentials to resolve the observed problems with electronic payments in Nigeria, as many of them are related to specification of wrong beneficiary account numbers.<\/p>\n<p>\u201cThe mode of transition from the present situation to the NUBAN scheme has to be handled carefully to ensure the success of the scheme.<\/p>\n<p>\u201cThe NUBAN codes should be communicated to existing customers as soon as the codes become available.<br \/>\u201cAlso, the owners of all new bank accounts opened from January 01, 2011, should be provided with NUBAN codes at the onset.<\/p>\n<p>\u201cThe NUBAN scheme requires that the account number field in the cheque MICR code line should feature only NUBAN numbers.<\/p>\n<p>\u201cAccordingly, all new cheques issued to customers should carry NUBAN codes.<\/p>\n<p>\u201cWith this transition method, the present account numbers and NUBAN codes would co-exist in the electronic payment and cheque clearing systems from January 2011 to June 2011.<\/p>\n<p>\u201cThis implies that banks have to build in the required intelligence in their respective in-clearing systems to distinguish NUBAN codes from old account numbers while processing inward cheque items and electronic payment instruments, during this transition period.<\/p>\n<p>\u201cThe deadline for full NUBAN compliance is June 2011.<\/p>\n<p>\u201cTherefore only instruments (paper and electronic) that carry NUBAN codes and pass the NUBAN validation test (that is, instruments with correct check digit) would be allowed in the automated clearing system as from this date.\u201d<\/p>\n<\/div>\n<p>Comments are moderated. Please keep them clean and brief.<\/p>\n<\/p>\n<p>See the original post:<br \/>\n<a target=\"_blank\" href=\"http:\/\/www.vanguardngr.com\/2011\/04\/cbn-sets-june-deadline-for-uniform-bank-account-number-scheme\/\" title=\"CBN sets June deadline for Uniform Bank Account Number Scheme\" rel=\"noopener noreferrer\">CBN sets June deadline for Uniform Bank Account Number Scheme<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p> The Central Bank of Nigeria (CBN) has set June this year as deadline for banks to fully comply with the Nigeria Uniform Bank Account Number (NUBAN) scheme. This was communicated to banks via a release titled, \u201cPROPOSALS ON THE IMPLEMENTATION OF NUBAN SCHEME (Version 0.4)\u201d. <\/p>\n","protected":false},"author":0,"featured_media":406109,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":{"0":"post-406108","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-local-news"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>CBN sets June deadline for Uniform Bank Account Number Scheme - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2011\/04\/29\/cbn-sets-june-deadline-for-uniform-bank-account-number-scheme\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"CBN sets June deadline for Uniform Bank Account Number Scheme - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"The Central Bank of Nigeria (CBN) has set June this year as deadline for banks to fully comply with the Nigeria Uniform Bank Account Number (NUBAN) scheme. This was communicated to banks via a release titled, \u201cPROPOSALS ON THE IMPLEMENTATION OF NUBAN SCHEME (Version 0.4)\u201d.\" \/>\n<meta name=\"twitter:creator\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:site\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/04\/29\/cbn-sets-june-deadline-for-uniform-bank-account-number-scheme\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/04\/29\/cbn-sets-june-deadline-for-uniform-bank-account-number-scheme\/\"},\"author\":{\"name\":\"\",\"@id\":\"\"},\"headline\":\"CBN sets June deadline for Uniform Bank Account Number Scheme\",\"datePublished\":\"2011-04-29T02:51:20+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/04\/29\/cbn-sets-june-deadline-for-uniform-bank-account-number-scheme\/\"},\"wordCount\":353,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/04\/29\/cbn-sets-june-deadline-for-uniform-bank-account-number-scheme\/#primaryimage\"},\"thumbnailUrl\":\"\",\"articleSection\":[\"Local News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.ghanamma.com\/2011\/04\/29\/cbn-sets-june-deadline-for-uniform-bank-account-number-scheme\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/04\/29\/cbn-sets-june-deadline-for-uniform-bank-account-number-scheme\/\",\"url\":\"https:\/\/www.ghanamma.com\/2011\/04\/29\/cbn-sets-june-deadline-for-uniform-bank-account-number-scheme\/\",\"name\":\"CBN sets June deadline for Uniform Bank Account Number Scheme - Ghanamma.com\",\"isPartOf\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/04\/29\/cbn-sets-june-deadline-for-uniform-bank-account-number-scheme\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/04\/29\/cbn-sets-june-deadline-for-uniform-bank-account-number-scheme\/#primaryimage\"},\"thumbnailUrl\":\"\",\"datePublished\":\"2011-04-29T02:51:20+00:00\",\"author\":{\"@id\":\"\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.ghanamma.com\/2011\/04\/29\/cbn-sets-june-deadline-for-uniform-bank-account-number-scheme\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/04\/29\/cbn-sets-june-deadline-for-uniform-bank-account-number-scheme\/#primaryimage\",\"url\":\"\",\"contentUrl\":\"\"},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/#website\",\"url\":\"https:\/\/www.ghanamma.com\/2011\/\",\"name\":\"Ghanamma.com\",\"description\":\"News In Ghana - Latest Ghana News Headlines\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.ghanamma.com\/2011\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"CBN sets June deadline for Uniform Bank Account Number Scheme - Ghanamma.com","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.ghanamma.com\/2011\/04\/29\/cbn-sets-june-deadline-for-uniform-bank-account-number-scheme\/","twitter_card":"summary_large_image","twitter_title":"CBN sets June deadline for Uniform Bank Account Number Scheme - Ghanamma.com","twitter_description":"The Central Bank of Nigeria (CBN) has set June this year as deadline for banks to fully comply with the Nigeria Uniform Bank Account Number (NUBAN) scheme. 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