Bank customers have been visiting their banks to reactivate dormant accounts in response to new Central Bank of Nigeria (CBN) guidelines. These guidelines aim to manage dormant accounts and unclaimed balances more effectively.
Customers, including businesswoman Ugonne Akputa and Cyprian Yusuf, are taking steps to ensure their accounts remain active and accessible. They are depositing funds into old accounts or inquiring about deceased relatives’ accounts to prevent forfeiture.
The CBN’s new rules stipulate that accounts with no activity for six months are considered dormant. The guidelines include establishing a trust fund for unclaimed balances and allow next-of-kin to reclaim funds from dormant accounts.
Punch