Next-Of-Kins Can Now Claim Funds In Dormant Accounts - CBN - Business

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Next-Of-Kins Can Now Claim Funds In Dormant Accounts - CBN - Business - Nairaland

Nairaland Forum / Nairaland / General / Business / Next-Of-Kins Can Now Claim Funds In Dormant Accounts - CBN (20279 Views)

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Next-Of-Kins Can Now Claim Funds In Dormant Accounts - CBN by ify2016: 10:42am On Jul 30

The CBN has allowed next-of-kin, legal representatives, or beneficial owners to claim unclaimed balances in dormant accounts

The CBN clarified this in a report released over the weekend. It stated that next-of-kin can now claim unclaimed funds by submitting applications to financial institutions.These applications must include legal proof of title & for corporate entities, details of directors & authorized signatories

The CBN has the authority to manage dormant accounts & unclaimed funds. It can receive & manage these funds in trust for account holders. A dedicated office, supervised by a management committee will oversee this proces

CBN will place unclaimed funds in the Unclaimed Balances Trust Fund Pool Account and invest them in treasury bills & other securities.The principal & any interest will be refunded to beneficiaries within 10 working days of a reclaim request

Account owners must visit financial institutions to complete a reclaim form, provide evidence of ownership, a sworn affidavit, & valid ID.

https://tribuneonlineng.com/next-of-kin-can-now-claim-funds-in-dormant-accounts-cbn/

15 Likes 1 Share

Re: Next-Of-Kins Can Now Claim Funds In Dormant Accounts - CBN by Kayceo2010: 11:13am On Jul 30

Good one

6 Likes

Re: Next-Of-Kins Can Now Claim Funds In Dormant Accounts - CBN by Sonfethopia: 11:47am On Jul 30

Na so them de talk when you go bank the stress no be here.
Please build industries. I don't know why you people are building coaster way from calabar to Lagos when there's hunger.

37 Likes

Re: Next-Of-Kins Can Now Claim Funds In Dormant Accounts - CBN by Ebukamatth(m): 2:36pm On Jul 30

Re: Next-Of-Kins Can Now Claim Funds In Dormant Accounts - CBN by SmartPolician: 2:36pm On Jul 30

These ones just dey use grammar confuse themselves. For those who don't know, the Nigerian state (especially the judiciary) is stealing from ordinary Nigerians.

When your loved one dies, even if you are the next of kin, you cannot access that money. The bank will expect you to get a legal document, authorizing the bank to give you the money.

To get that legal document from court, you will pay 10% of the money in that account even when you don't have access to the money yet. If that's not criminality, then what is?

When I saw legal things in this press statement, I only asked myself, "What changed?" undecided

49 Likes 2 Shares

Re: Next-Of-Kins Can Now Claim Funds In Dormant Accounts - CBN by Dialpad: 2:36pm On Jul 30

Lol .... how ?

Re: Next-Of-Kins Can Now Claim Funds In Dormant Accounts - CBN by mrjoeblinks: 2:36pm On Jul 30

Ehen?
.
Who been dey claim am before?

7 Likes

Re: Next-Of-Kins Can Now Claim Funds In Dormant Accounts - CBN by Candidlady: 2:37pm On Jul 30

Re: Next-Of-Kins Can Now Claim Funds In Dormant Accounts - CBN by ClearFlair: 2:37pm On Jul 30

We will start seeing next of kins with no known history now

1 Like 1 Share

Re: Next-Of-Kins Can Now Claim Funds In Dormant Accounts - CBN by NaijaCover(m): 2:37pm On Jul 30

Wow 😲

Re: Next-Of-Kins Can Now Claim Funds In Dormant Accounts - CBN by Rubyjade: 2:37pm On Jul 30

Re: Next-Of-Kins Can Now Claim Funds In Dormant Accounts - CBN by shiki(m): 2:37pm On Jul 30

Re: Next-Of-Kins Can Now Claim Funds In Dormant Accounts - CBN by robinso01(m): 2:37pm On Jul 30

Good.

1 Like

Re: Next-Of-Kins Can Now Claim Funds In Dormant Accounts - CBN by straighttalk(m): 2:37pm On Jul 30

Good

Re: Next-Of-Kins Can Now Claim Funds In Dormant Accounts - CBN by bassdow: 2:38pm On Jul 30

419 & FRAUD Loading

How can CBN allow such possible even while the actual account owner is still alive

1 Like

Re: Next-Of-Kins Can Now Claim Funds In Dormant Accounts - CBN by IrepChrist: 2:38pm On Jul 30

This should agree with a will. If there is one

Re: Next-Of-Kins Can Now Claim Funds In Dormant Accounts - CBN by ihedioramma: 2:38pm On Jul 30

How truth ?

Re: Next-Of-Kins Can Now Claim Funds In Dormant Accounts - CBN by samtoles: 2:38pm On Jul 30

Believe this at your own peril. These banks will still frustrate you. Their stress is only worth it if the money in the account is substantial enough.

1 Like

Re: Next-Of-Kins Can Now Claim Funds In Dormant Accounts - CBN by Klington: 2:38pm On Jul 30

Re: Next-Of-Kins Can Now Claim Funds In Dormant Accounts - CBN by ogaemma: 2:38pm On Jul 30

Before I believe, it must be passed into bill by the Senate and signed into law by the President.

1 Like

Re: Next-Of-Kins Can Now Claim Funds In Dormant Accounts - CBN by Antoeni(m): 2:39pm On Jul 30

So What Will Now Happen to All Unclaimed Funds , That Bank Managers Have Eaten?

1 Like

Re: Next-Of-Kins Can Now Claim Funds In Dormant Accounts - CBN by SmartyPants(m): 2:40pm On Jul 30

This is a wrong move. The lawful process is for the Courts to determine how a deceased properties including cash assets should be shared particularly if they have no will.

Re: Next-Of-Kins Can Now Claim Funds In Dormant Accounts - CBN by pipnator00(m): 2:40pm On Jul 30

These people just dey find money any how!
First they came up with cyber levy, that one failed!
Currently they bullied the banks and are taxing them a whole 70% on profit made from FX.
Now, they want to dig their dirty hands into unclaimed funds with the banks.
This is criminality and another bullying of banks. The money was given to the banks on trust and not the CBN.
The business trust/exchange/agreement was between the banks and the customer and never with the CBN.
The CBN should concentrate with their function of regulating the banks and not digging their hands into customers deposit.
I know someone would say, the bill for such act has been passed or signed into law by the national assembly!
Signing it into law does not preclude the criminality of such act. CBN, hands off our money!
The Nigerian banks including the association of lawyers should fight this else it will encourage the govt to pass unilateral laws that wouldn't be challenged by the citizens.

3 Likes 1 Share

Re: Next-Of-Kins Can Now Claim Funds In Dormant Accounts - CBN by EnglishUsa: 2:40pm On Jul 30

I will go to check my grandpa money

2 Likes 1 Share

Re: Next-Of-Kins Can Now Claim Funds In Dormant Accounts - CBN by jackie111(m): 2:41pm On Jul 30

This was probably done to help someone affected at the top of the banking system.

IYKYK

3 Likes

Re: Next-Of-Kins Can Now Claim Funds In Dormant Accounts - CBN by MaziObinnaokija: 2:41pm On Jul 30

Re: Next-Of-Kins Can Now Claim Funds In Dormant Accounts - CBN by Citizen10: 2:41pm On Jul 30

bassdow:
419 & FRAUD Loading

How can CBN allow such possible even while the actual account owner is still alive

For where? Can any account with funds be dormant? Is it possible in this country. Dormant accounts are usually abandoned accounts due to lack of funds and activities. Except in a domiciliary account and that's even a very rare case.

1 Like

Re: Next-Of-Kins Can Now Claim Funds In Dormant Accounts - CBN by atobs4real(m): 2:43pm On Jul 30

No be shereshere

Re: Next-Of-Kins Can Now Claim Funds In Dormant Accounts - CBN by Sonofgod1990(m): 2:44pm On Jul 30

[quote author= post=131225564]Wow

Re: Next-Of-Kins Can Now Claim Funds In Dormant Accounts - CBN by Hemanwel(m): 2:44pm On Jul 30

Re: Next-Of-Kins Can Now Claim Funds In Dormant Accounts - CBN by Lanretoye(m): 2:44pm On Jul 30

Bankers will cash out on this one with generated next of kin.

Re: Next-Of-Kins Can Now Claim Funds In Dormant Accounts - CBN by Ebigwei007: 2:44pm On Jul 30

Hmmm, to me beneficiary is the best, but you can do the both.

Please house, i wish you can help me financially, please your little will go a long way 7019581801, opay

Thank you.

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