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Nairaland Forum / Nairaland / General / Politics / CBN Tells Banks To Hand Over Funds In Dormant Accounts, Unclaimed Dividends (17167 Views)
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CBN Tells Banks To Hand Over Funds In Dormant Accounts, Unclaimed Dividends by FreeStuffsNG: 11:43pm On Jul 19 |
JUST IN: CBN Directs Banks To Transfer Over N200bn Dormant Account Balances, Unclaimed Dividends In FG TBs, Bond The Central Bank of Nigeria has ordered banks and financial institutions to transfer unclaimed dividends and dormant account balances into an account controlled by the CBN. https://thewhistler.ng/just-in-cbn-directs-banks-to-transfer-over-n200bn-dormant-account-balances-unclaimed-dividends-in-fg-tbs-bond/ 57 Likes 1 Share
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Re: CBN Tells Banks To Hand Over Funds In Dormant Accounts, Unclaimed Dividends by FreeStuffsNG: 11:43pm On Jul 19 |
“The CBN shall open and maintain an account earmarked for the purpose of warehousing unclaimed balances in eligible accounts. The account shall be called “Unclaimed Balances Trust Fund (UBTF) Pool Account,” the apex bank said in the document obtained by THE WHISTLER. For the unclaimed dividend and dormant account balances, the CBN said banks should maintain records of the beneficiaries of the unclaimed balances warehoused in the UBTF Pool Account. The funds are not permanently taken away from the owners but for keep with the CBN so that banks will not use it for their recapitalisation. CBN insists that only fresh funds should be used for the bank recapitalisation. May God bless Nigeria for ever! Check my signature for free stuffs! 73 Likes 4 Shares |
Re: CBN Tells Banks To Hand Over Funds In Dormant Accounts, Unclaimed Dividends by Validated: 11:51pm On Jul 19 |
They should not try any nonsense transfer. The funds do not belong toFG or CBN. A restraining will be instituted soon. 68 Likes 9 Shares |
Re: CBN Tells Banks To Hand Over Funds In Dormant Accounts, Unclaimed Dividends by FreeStuffsNG: 11:54pm On Jul 19 |
Validated: Read the report. If you have funds in dormant account, please go reactivate your dormant bank account now instead of making empty threats online. Some of the accounts have been dormant for decades and sitting idle in the bank vaults. It makes no difference if it is warehoused with CBN because it doesn't belong to the banks and have been dormant for long. Btw, FG is not taking away the funds from the owners permanently. The banks should have been repeatedly ensuring that the owners of dormant bank accounts are sensitized to reactivate their accounts but there's nothing the bank can do even if they do so yet owners of the dormant account don't reactivate their dormant accounts. The real point is that the money is better warehoused with CBN and if the owners need their funds, they go through their banks first to reactivate their bank accounts and get back their funds. Shikena 94 Likes 5 Shares |
Re: CBN Tells Banks To Hand Over Funds In Dormant Accounts, Unclaimed Dividends by Medipharm: 12:30am On Jul 20 |
Then How would CBN know Banks have actually send all monies from dormant accounts in respective Banks. Maybe they have records but they would still be a foul play 11 Likes 1 Share |
Re: CBN Tells Banks To Hand Over Funds In Dormant Accounts, Unclaimed Dividends by Yankee101: 2:39am On Jul 20 |
I hope they don’t try and steal people’s money It’s better to inform family members as Nigerians don’t have wills or tell their family members all their accounts 47 Likes 2 Shares |
Re: CBN Tells Banks To Hand Over Funds In Dormant Accounts, Unclaimed Dividends by AcuraZDX: 4:29am On Jul 20 |
EcoNews: Imagine how shameless you guys are. Clowns in power looking for every avenue to steal from the citizens. 53 Likes |
Re: CBN Tells Banks To Hand Over Funds In Dormant Accounts, Unclaimed Dividends by franugo(m): 5:11am On Jul 20 |
FreeStuffsNG: Be deceiving yourself. FG has been after the unclaimed dividends and dormant account balances since Buhari's tenure. What makes you think this is about recapitalization? 47 Likes 5 Shares |
Re: CBN Tells Banks To Hand Over Funds In Dormant Accounts, Unclaimed Dividends by franugo(m): 5:14am On Jul 20 |
FreeStuffsNG: You're delusional if you think the money is better warehoused at CBN. Did you read the part where they said it'd take 10 working days to release the funds upon request and they might not be able to release funds in that time for specific reasons? Which bank will hold your funds once your dormant account is reactivated? 36 Likes |
Re: CBN Tells Banks To Hand Over Funds In Dormant Accounts, Unclaimed Dividends by MANNABBQGRILLS: 5:25am On Jul 20 |
..............any unutilised amounts in a dormant bank account maintained in or by a deposit money bank, which has remained unclaimed or unutilised for a period of not less than six years from the date of declaring the dividend or domiciling the funds in a bank account, shall be transferred immediately to Unclaimed Funds Trust Fund.Nigerians, Especially those in diaspora, please go reactivate your dormant bank account now. Just a phone call will do. We only pray toi won't fall into the hands of some fraudulent bankers who will capitalize on this by not picking up calls. Nigeria will be great in our lifetime. 63 Likes 4 Shares |
Re: CBN Tells Banks To Hand Over Funds In Dormant Accounts, Unclaimed Dividends by iLoveYouToo(m): 5:26am On Jul 20 |
I tried to claim my dividends in 2022, Zenith bank run me street. It’s better this way, CBN should seize it 67 Likes 1 Share |
Re: CBN Tells Banks To Hand Over Funds In Dormant Accounts, Unclaimed Dividends by maivd: 5:27am On Jul 20 |
Lagos mentality of stealing from everything within reach. 21 Likes |
Re: CBN Tells Banks To Hand Over Funds In Dormant Accounts, Unclaimed Dividends by MANNABBQGRILLS: 5:28am On Jul 20 |
iLoveYouToo:And are you fine with that? And you left your money for Zenith Bank just like that?? Cos dem run u street? No one will leave their hard earned money for any bank like that, if it was legitimate! Our kobo!! 73 Likes 6 Shares |
Re: CBN Tells Banks To Hand Over Funds In Dormant Accounts, Unclaimed Dividends by MANNABBQGRILLS: 5:29am On Jul 20 |
maivd:Lagos ![]() After all you read here? Hatred for Lagos has eaten too deep into some people's medulla oblongata sha! Education no be scam o. 67 Likes 7 Shares |
Re: CBN Tells Banks To Hand Over Funds In Dormant Accounts, Unclaimed Dividends by xpressionx(m): 5:29am On Jul 20 |
This APC administration sha 😂 5 Likes |
Re: CBN Tells Banks To Hand Over Funds In Dormant Accounts, Unclaimed Dividends by MANNABBQGRILLS: 5:30am On Jul 20 |
maivd:Illiteracy is not a disease, It's something worse!!! 60 Likes 5 Shares |
Re: CBN Tells Banks To Hand Over Funds In Dormant Accounts, Unclaimed Dividends by kolafolabi(m): 5:31am On Jul 20 |
The Central Bank of Nigeria's directive to banks to transfer funds from dormant accounts and unclaimed dividends is a commendable move. This initiative ensures that idle funds are effectively managed and possibly redirected for more productive uses, benefitting the broader economy. Additionally, it provides a mechanism to address the issue of unclaimed financial assets, enhancing transparency and accountability within the financial sector. 3 Likes 2 Shares |
Re: CBN Tells Banks To Hand Over Funds In Dormant Accounts, Unclaimed Dividends by kennyz247(m): 5:31am On Jul 20 |
Thief catch thieves game 6 Likes |
Re: CBN Tells Banks To Hand Over Funds In Dormant Accounts, Unclaimed Dividends by omoyankee3(m): 5:32am On Jul 20 |
Bad news for Banks 3 Likes 2 Shares |
Re: CBN Tells Banks To Hand Over Funds In Dormant Accounts, Unclaimed Dividends by UselessBuharist: 5:32am On Jul 20 |
post=131047279: MANNABBQGRILL.S… you know how to attack and insult people but when they retaliate you start calling the mode like a child looking for his mom 28 Likes |
Re: CBN Tells Banks To Hand Over Funds In Dormant Accounts, Unclaimed Dividends by Mayflowa(m): 5:34am On Jul 20 |
Medipharm: That will be violation of the regulations which comes with a heavy fine. Maybe 10m naira per violation. No business will risk regulator's violation. 2 Likes 1 Share |
Re: CBN Tells Banks To Hand Over Funds In Dormant Accounts, Unclaimed Dividends by HawkTuah: 5:34am On Jul 20 |
You wan kill first bank. First bank and Union bank has the highest dormant accounts and most of the owners are dead and their descendants not aware.. If implemented, it go shake first bank small, maybe they will improve in their customers services. 9 Likes 3 Shares |
Re: CBN Tells Banks To Hand Over Funds In Dormant Accounts, Unclaimed Dividends by Akujuriobi: 5:35am On Jul 20 |
Useless,if they don't have money to run the country then they should declare the country bankrupt. A bag of rice is 90k,garri is 85k and electricity out of reach , transport fare out of reach and fuel 780 and peoply are online talking and supporting rubbish because of ethnicity and religious inclination. Shame shame to those that are blind and can't condemned evil and bad governance. Ndume GOD bless your spirit and soul wherever u are. You lie you die and you say the truth you die, choose your choice. 17 Likes 1 Share |
Re: CBN Tells Banks To Hand Over Funds In Dormant Accounts, Unclaimed Dividends by Standing5(m): 5:36am On Jul 20 |
Hmmm |
Re: CBN Tells Banks To Hand Over Funds In Dormant Accounts, Unclaimed Dividends by NewDea4: 5:37am On Jul 20 |
AcuraZDX: APC are thieves and criminals! 6 Likes |
Re: CBN Tells Banks To Hand Over Funds In Dormant Accounts, Unclaimed Dividends by Matheusmartin: 5:37am On Jul 20 |
post=131047279:. See this ozuor talking about illiteracy. Smh 12 Likes |
Re: CBN Tells Banks To Hand Over Funds In Dormant Accounts, Unclaimed Dividends by Babangidapikin: 5:37am On Jul 20 |
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Re: CBN Tells Banks To Hand Over Funds In Dormant Accounts, Unclaimed Dividends by Mayflowa(m): 5:38am On Jul 20 |
franugo: Federal govt might be slow but they will not owe you. Did you read the part the money will be invested in security like Treasury bills and your money will be returned with interest. that means you may even have 3X your money after 7 - 10 years. This was not the case with bank holding your money. 2 Likes 2 Shares |
Re: CBN Tells Banks To Hand Over Funds In Dormant Accounts, Unclaimed Dividends by Eriggs: 5:40am On Jul 20 |
UselessBuharist:Will you keep shut, when has correcting someone or saying the truth became an insult. No wonder una wan kill Reno pikin, after saying the truth repeatedly about yna bitter obi.tuary obi the terrorist supporter and liar. Truth is always a problem with una obiden.se 3 Likes 2 Shares |
Re: CBN Tells Banks To Hand Over Funds In Dormant Accounts, Unclaimed Dividends by Eriggs: 5:41am On Jul 20 |
Matheusmartin:Ozuor calling another person ozuor 2 Likes |
Re: CBN Tells Banks To Hand Over Funds In Dormant Accounts, Unclaimed Dividends by maivd: 5:49am On Jul 20 |
post=131047269:Keeping deceiving yourselves,forming woke when they are draining you from all corners. If you trust this government with there constant lies and economic mismanagement then you need to evaluate your life. 8 Likes |
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