NIGERIA — The Central Bank of Nigeria (CBN) has given a next-of-kin the authority to access funds in dormant accounts of their loved ones, especially after death and incapacitation. In a report released over the weekend, the banking sector regulator in the country said legal representatives or beneficial owners could also claim the unclaimed balances in dormant accounts. It explained that such dormant accounts could be those that have remained idle for about 10 years... businesspost.ng
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Fri Jun 06 2025 21:17:11 GMT+0000 (Coordinated Universal Time)
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CBN has given next-of-kins the authority to access funds in dormant accounts of their loved ones
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Published (Updated) on Tuesday, August 6, 2024
• Bank of China keeps medium-term lending facility rate at 2 percent on 900 billion yuan ($124.26 billion)
• CBN begins the enforcement of cybercrime levy at 0.005 percent on all electronic transactions
• Huawei is gradually making an inroad into the Nigerian banking sector, a development that is becoming more worrisome, according to reports
• CBN directs all PoS providers to route transactions through an approved payment terminal
• Why are Central Banks Stocking Up more on Gold Recently? – Gold Market Trends
• Forty Innovative Ways to Leverage Artificial Intelligence (AI) Technology for Profit - How to Use AI to Make Money, Generate Profits for Your Business and Increase Your Income
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