NGN amounts in words: examples
A rent payment
NGN 250,000.00
Two Hundred Fifty Thousand Naira Only
Open this amount in the converter →A supplier invoice with kobo
NGN 45,750.50
Forty Five Thousand Seven Hundred Fifty Naira And Fifty Kobo Only
Open this amount in the converter →Close to the ₦10 million clearing cap
NGN 9,500,000.00
Nine Million Five Hundred Thousand Naira Only
Open this amount in the converter →Write the naira in words, add kobo if there are any, and end with “Only”. In the box, write ₦45,750.50 close to the symbol and line off the space.
Step by step: a naira cheque
- Check the expiry date printed on the cheque book. Under the Nigeria Cheque Standard, cheque books carry an expiry date; don’t write cheques from an expired book.
- Date: day/month/year.
- Pay: the payee’s full name or registered company name.
- Naira (words): start at the left, end with “Only”, line through the gap.
- ₦ box (figures): two decimals, e.g. 250,000.00.
- Crossing: two lines at the top left with “A/C Payee” for payments that should go into an account.
- Signature: exactly as on the bank’s mandate.
Clearing, the ₦10 million cap and third-party cheques
Under the CBN’s cheque truncation guidelines, cheques clear on a T+1 basis, so the payee normally receives value on the morning of the second working day after deposit. A single cheque in clearing is capped at ₦10 million; larger payments go by electronic transfer.
Third-party cheques (payable to someone other than the account holder) above ₦100,000 can’t be cashed over the counter; they must go through clearing into an account. The CBN kept this limit when it revised cash withdrawal rules in December 2025.
Dud cheques
Under the Dishonoured Cheques (Offences) Act, issuing a cheque that is dishonoured for lack of funds, when it was presented within three months of its date, is an offence. Individuals can be sentenced to two years’ imprisonment, and companies face fines. A bill to replace the Act, including a longer six-month window, has been debated in the Senate but we could not confirm it has become law.
Frequently asked questions
Do Nigerian cheques expire?
Cheque books issued under the CBN’s revised Nigeria Cheque Standard carry an expiry date, and a cheque presented long after its own date may also be refused. Check the date printed on your cheque book.
What is the maximum cheque amount in Nigeria?
A single cheque in clearing is capped at ₦10 million. Use an electronic transfer for larger amounts.
Can I cash a third-party cheque over the counter?
Only up to ₦100,000. Above that, it must be paid into an account through clearing.
How long does a cheque take to clear in Nigeria?
Cheques clear on a T+1 cycle, with value given on the morning of the second working day after deposit.
Sources
Rules change, and banks can apply stricter practices than the law requires. Check with your bank before relying on a detail for a large or time-sensitive payment. This guide is general information, not legal advice.
- CBN: Guidelines for cheque truncation in Nigeria (2012)
- CBN: Nigerian Bankers Clearing System Rules (revised)
- Nairametrics: CBN approves new cheque standard for banks
- AllAfrica: CBN removes limit on cash deposit, raises weekly withdrawal limit (Dec 2025)
- Laws of Nigeria: Dishonoured Cheques (Offences) Act