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Central Bank of Nigeria

Guidelines for the Management of Dormant Accounts by Banks in Nigeria

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Author
Central Bank of Nigeria
Year
2015
Pages
3 pages

These guidelines establish standards for identifying, classifying, monitoring, reporting, and managing inactive and dormant bank accounts in Nigeria. They define inactivity after six months and dormancy after six years, require notification of account holders and next-of-kin, preserve interest and deposit-liability treatment, provide for deposit insurance…

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