“Next-of-kin can now claim funds in dormant accounts” — CBN

The Central Bank of Nigeria (CBN) has announced that next-of-kin, legal representatives or beneficial owners can now claim unclaimed balances in dormant accounts.

According to report, Next-of-kin can claim unclaimed funds by submitting applications to financial institutions, including legal proof of title and details of directors and authorised signatories for corporate entities and CBN will refund the principal and any interest to beneficiaries within 10 working days of a reclaim request.