Please I would like to know if Payable on Death (POD) Account is recognised under Nigerian law and if it is offered by any Nigerian financial institution.

A POD account allows for the money remaining in the account when the account owner dies to pass directly to the beneficiaries named by the account owner.

All that the beneficiaries have to do to gain control of the account after the owner dies is to show the bank manager an original death certificate for the owner.