18 results
- 23 Dec 2020
ISAN Kicks against Unclaimed Dividend Trust Tund
Shareholders have said that the creation of unclaimed Dividend Trust Fund and transfer of the unclaimed dividends into the Federation Account will encourage corruption and nepotism to the detriment…
- 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…
- 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…
- 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…
- 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…
- 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 Jun 2025
SEC Directs Companies to Honour Unclaimed Dividend Requests
Securities and Exchange Commission (SEC) has directed all public companies and Registrars to stop treating unclaimed dividends older than 12 years as “statute-barred”, especially those dating from…
- 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…
- 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.…
- 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,…
- 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…
- 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…
- 21 Feb 2021
Shareholders Drag FG to Court over Plan to Borrow N158Bn Unclaimed Dividend
Shareholders have sued the government at Federal High Court of Nigeria, Abeokuta Division, seeking to restrain the government from going ahead with the plan to borrow the over N158 billion…
- 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.…
- 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…
- 14 Apr 2009
e-Dividend Cuts Courier Operators Profit by 30% ..Companies Eye Alternative Windows
Electronic payment of dividends (e-dividends) has dealt a harsh blow on the courier companies with profits nose-diving by as much as 30 per cent as the Nigerian stock market implements the technology…
- 18 Aug 2013
First Bank Deploys Solution to Check N60Bn Unclaimed Dividends
First Registrars Nigeria Limited has unveiled a new technology, First Dividend Plus Prepaid Card & e-voting system that would help alleviate the problems investors go through in the market, as…
- 29 Jun 2025
Shareholders Oppose Transfer of Unclaimed Dividend to CBN
Shareholders have condemned the recent decision by the National Assembly to pass legislation requiring the transfer of all unclaimed dividends from company registrars to accounts managed by the…