12 results
- 19 Apr 2026
FG Borrows N100Bn from Unclaimed Dividends, Dormant Bank Accounts
Federal government has recorded a N100 billion borrowing from unclaimed dividends and dormant bank accounts, as new data from the Debt Management Office (DMO) showed that funds warehoused under the…
- 13 Apr 2023
Unclaimed monies in dormant accounts to be invested in T-Bills – CBN
Central Bank of Nigeria (CBN) says it will mop up all dormant account balances and unclaimed balances in banks into a Trust Fund account which will ultimately be invested in Treasury Bills. This is…
- 10 Jan 2021
SERAP Fights FG over Plans to Take over Dormant Account Balances, Unclaimed Dividends
The Socio-Economic Rights and Accountability Project (SERAP) has sent an open letter to President Muhammadu Buhari urging him to use his leadership position “to promptly drop the plan by the Federal…
- 7 Jan 2021
Angst as FG Goes After N895Bn Unclaimed Dividends, Dormant Accounts’ Balances
The federal government has perfected ways to borrow funds from unclaimed dividends and dormant bank account balances unattended to for at least six years, thanks to the 2020 Finance Act, despite…
- 28 Jul 2024
CBN to Publish Names of Owners of Dormant Accounts Yearly
Central Bank of Nigeria (CBN), said it would publish the names of owners of unclaimed balances in dormant accounts that is being transferred to the Unclaimed Balances Trust Fund (UBTF) Pool Account.…
- 21 Jul 2024
CBN Expects N20trn from Dormant Accounts
Central Bank of Nigeria (CBN) has directed banks and other financial institutions to deposit unclaimed balances and funds in dormant accounts to the apex bank accounts. According to the CBN the…
- 16 Mar 2026
CBN Relaxes Dormant Account Rules with Removal of Affidavit Requirement
The Central Bank of Nigeria (CBN) has removed the requirement for customers to present affidavits when reactivating dormant bank accounts, a move aimed at simplifying the process of reclaiming…
- 23 Jul 2024
We Banks Told to Transfer Dormant Accounts to Us to Prevent Fraud – CBN
Olayemi Cardoso, governor, Central Bank of Nigeria (CBN), has explained that it ordered banks to transfer all dormant accounts and unclaimed balances to a specialized account to prevent fraud.…
- 25 Jul 2025
Cardoso, CBN Boss Risks Arrest over Alleged N5.2 Trillion Unremitted Funds
The Joint Committee of the House of Representatives on Public Accounts and Public Assets has threatened to issue a warrant of arrest against Mr. Olayemi Cardoso, governor of the Central Bank of…
- 14 Mar 2021
SERAP Sues Buhari, FG over Plan to Borrow N895Bn from Dormant Accounts
Socio-Economic Rights and Accountability Project (SERAP) has asked the Federal High Court in Abuja to restrain and stop President Muhammadu Buhari and the Federal Government from borrowing an…
- 10 Dec 2020
SEC @ Senate Hearing Opposes FG’s Move to Manage Unclaimed Dividends
Securities and Exchange Commission (SEC) is opposed to a proposed amendment in the Finance Bill 2020 that prescribes that unclaimed dividends be handed over to the federal government as trustee,…
- 13 Nov 2020
Angst as FG Plans to Take Over Unclaimed Dividends, Dormant Accounts
Federal government is once again proposing the unpopular Unclaimed Dividend Trust amendment to the Companies & Allied Matters Act (CAMA), where unutilised bank balance and unclaimed dividends…