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Nairaland Forum / Nairaland / General / Politics / Fg To Borrow Dormant Account Balances, Unclaimed Dividends. (3543 Views)
CBN Tells Banks To Hand Over Funds In Dormant Accounts, Unclaimed Dividends / SERAP Asks Buhari To Drop Plan To Borrow Dormant Account Balances / Balances On Onnoghen’s 5 Bank Accounts Released By Ifeoma Okeagbue (2) (3) (4)
Fg To Borrow Dormant Account Balances, Unclaimed Dividends. by MASTAkiLLAh(m): 3:16pm On Jan 06, 2021 |
Unclaimed dividends and bank account balances unattended to for at least six years will available as special credit to the federal government through the Unclaimed Funds Trust Fund. According to the Finance Act 2020 recently signed into law by President Muhammadu Buhari, the trust fund will be a sub-fund of the Crisis Intervention Fund. “Any unclaimed dividend of a public limited liability company quoted on the Nigerian Stock Exchange and 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 the trust fund,” the act read. The act exempts official bank accounts owned by the federal government, state government or local governments or any of their ministries, departments or agencies. According to the act, the monies transferred to the trust fund will be a “special debt owed by the federal government to shareholders and dormant bank account holders”. It also states that the original owners of the money can claim it at any time The operation of the trust fund will be supervised by the Debt Management Office (DMO) and governed by a governing council chaired by the finance minister and a co-chairperson from the private sector appointed by the president. This move will make needed funds available to the federal government without foreign exchange worries or conditions attached to loans from multilateral lenders. Other members of the governing council shall include the governor of the Central Bank of Nigeria (CBN), director-general of the Securities and Exchange Commission (SEC), managing director of the National Deposit Insurance Corporation (NDIC), a representative of the registrars of companies, two representatives of the shareholders’ association, a representative of the Bankers’ Committee and the director-general of the Debt Management Office as the secretary of the trust fund. https://www.thecable.ng/fg-to-borrow-dormant-account-balances-unclaimed-dividends/ 1 Like |
Re: Fg To Borrow Dormant Account Balances, Unclaimed Dividends. by MASTAkiLLAh(m): 3:17pm On Jan 06, 2021 |
Lalasticlala, great news 1 Like |
Re: Fg To Borrow Dormant Account Balances, Unclaimed Dividends. by potent5(m): 3:28pm On Jan 06, 2021 |
This apc gorment no de carry eye see idle money. Chei 3 Likes
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Re: Fg To Borrow Dormant Account Balances, Unclaimed Dividends. by Omihanifa: 3:31pm On Jan 06, 2021 |
With the way this government is looking for money everywhere one will think this country is not blessed with natural resources that can easily generate revenue for the country What's the government doing about bitumen that is wasting away in Ondo State ? What's the government doing about gold that Chinese people are stealing away in Osun and Zamfara ? What's the government doing about agriculture and fishing that can generate enough FX for the country. Instead of the government to develop these thing so that it can generate the much needed revenue and employment opportunities they are busy scanning people account that has been idle for 6 years 6 Likes 1 Share |
Re: Fg To Borrow Dormant Account Balances, Unclaimed Dividends. by NwaNimo1(m): 3:32pm On Jan 06, 2021 |
Thief....... |
Re: Fg To Borrow Dormant Account Balances, Unclaimed Dividends. by Coldie(m): 3:33pm On Jan 06, 2021 |
Alot of people had bank accounts without their families knowing why not the fg or banks try to contact the next of kins 5 Likes |
Re: Fg To Borrow Dormant Account Balances, Unclaimed Dividends. by MASTAkiLLAh(m): 3:39pm On Jan 06, 2021 |
potent5:you never chichomthing |
Re: Fg To Borrow Dormant Account Balances, Unclaimed Dividends. by MASTAkiLLAh(m): 3:40pm On Jan 06, 2021 |
Coldie:and lose such a goldmine ? Haha.... Pension funds next target bro 2 Likes 1 Share |
Re: Fg To Borrow Dormant Account Balances, Unclaimed Dividends. by fuckingAyaya(m): 3:41pm On Jan 06, 2021 |
Make una no touch my last 1k 1 Like
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Re: Fg To Borrow Dormant Account Balances, Unclaimed Dividends. by MASTAkiLLAh(m): 3:41pm On Jan 06, 2021 |
NwaNimo1:why you dey vex, why you dey vex ? Is it your money x2 .... singing in Buhari's voicè |
Re: Fg To Borrow Dormant Account Balances, Unclaimed Dividends. by FarahAideed: 3:42pm On Jan 06, 2021 |
Buhari the greatest thief in the history of Nigeria...Never seen someone so incompetent |
Re: Fg To Borrow Dormant Account Balances, Unclaimed Dividends. by Coldie(m): 3:42pm On Jan 06, 2021 |
Nigerians deserve the government they get Nigerians are not ready then advance. Same people complaining if they were told if an igbo man can change Nigeria will you give him a chance they will answer you let Nigeria stay like that... So leave it na |
Re: Fg To Borrow Dormant Account Balances, Unclaimed Dividends. by skyblueking(m): 3:42pm On Jan 06, 2021 |
Very soon bank account owners would start paying National levies. This government Na scam |
Re: Fg To Borrow Dormant Account Balances, Unclaimed Dividends. by MASTAkiLLAh(m): 3:42pm On Jan 06, 2021 |
Yarimo my boy, come let me tell you something |
Re: Fg To Borrow Dormant Account Balances, Unclaimed Dividends. by owobokiri(m): 3:47pm On Jan 06, 2021 |
How legal is this? Has the government got the power to STEAL private money? Why go into people's account even if they are dead? Why is the government desperate to possess what doesn't belong to it? Why are they ballooning the civil service with tribal urchins and party henchmen instead of reducing the workforce in order to cut down on recurrent expenditures? Why are they still appropriating huge sums as allowances and estacodes while the country is on a borrowing spree? On top of the endless VAT and hikes on petroleum pump price and power tarriffs, this terrifying government wants to go through the back door to steal money left in the bank by hardworking Nigerians because they presume them to be "dormant"?? They make it extremely hard for the next of kins to collect these monies only for a dubious government to easily access same?? Who are these people 4 Likes |
Re: Fg To Borrow Dormant Account Balances, Unclaimed Dividends. by Prolificgiant(m): 3:49pm On Jan 06, 2021 |
This government is just looking for money at every corner and arena, if u in need of a cleaning job around lekki and ajah axis check my signature |
Re: Fg To Borrow Dormant Account Balances, Unclaimed Dividends. by owobokiri(m): 3:51pm On Jan 06, 2021 |
Omihanifa: No single person in that government has any sort of serious business acumen... The undocumented illegal Chinese miners all over Nigeria might be making more money for China through mining than nigeria makes through oil.... You will think I'm joking but if you know how the Chinese operate, you will need no body to tell you that for them to risk fulani herdsmen and Boko Haram to go mining illegaly in northern nigeria means they're making a kill... |
Re: Fg To Borrow Dormant Account Balances, Unclaimed Dividends. by EMMY76: 3:56pm On Jan 06, 2021 |
Buhari's govt wants to spoil business for nigerian banks. 1 Like |
Re: Fg To Borrow Dormant Account Balances, Unclaimed Dividends. by MASTAkiLLAh(m): 4:00pm On Jan 06, 2021 |
owobokiri:wailer Why are you complaining too much ? You're making the government look bad and incompetent, you're also embarrassing Buhari which is a sin |
Re: Fg To Borrow Dormant Account Balances, Unclaimed Dividends. by MASTAkiLLAh(m): 4:01pm On Jan 06, 2021 |
EMMY76:shhhh |
Re: Fg To Borrow Dormant Account Balances, Unclaimed Dividends. by MASTAkiLLAh(m): 4:02pm On Jan 06, 2021 |
owobokiri:they collude, they collude 1 Like |
Re: Fg To Borrow Dormant Account Balances, Unclaimed Dividends. by Omihanifa: 4:04pm On Jan 06, 2021 |
owobokiri: I agree with you baba 1 Like |
Re: Fg To Borrow Dormant Account Balances, Unclaimed Dividends. by owobokiri(m): 4:04pm On Jan 06, 2021 |
MASTAkiLLAh:Lol, I can't make bad to look bad.. |
Re: Fg To Borrow Dormant Account Balances, Unclaimed Dividends. by CharleyBright(m): 4:14pm On Jan 06, 2021 |
OK oooo, it is Buharis govt way. Borrow Borrow Govt. Borrow abroad and borrow at home. Soon they will borrow from the citizens. An absolutely incompetent govt unable to think outside the box to generate revenues will definitely be borrowing from anywhere borrowable. Borrowing monies upandan. Monies they don't intend to pay back. Useless people in govt. |
Re: Fg To Borrow Dormant Account Balances, Unclaimed Dividends. by MASTAkiLLAh(m): 4:31pm On Jan 06, 2021 |
owobokiri:you must be kwaaarapt No mind the yeye people, they seem not to care where they're taking this country to with this trajectory 1 Like |
Re: Fg To Borrow Dormant Account Balances, Unclaimed Dividends. by MASTAkiLLAh(m): 4:32pm On Jan 06, 2021 |
Mynd44 whats up bruv |
Re: Fg To Borrow Dormant Account Balances, Unclaimed Dividends. by Maxymilliano(m): 4:32pm On Jan 06, 2021 |
If borrowing was in the manifesto of this government when they were canvassing for votes, I would have concluded that they fulfilled only ONE out of the numerous promises they made. Clueless government! 1 Like
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Re: Fg To Borrow Dormant Account Balances, Unclaimed Dividends. by mekaboy(m): 4:52pm On Jan 06, 2021 |
Hmmmm. This government will steal from Nigerians soon. |
Re: Fg To Borrow Dormant Account Balances, Unclaimed Dividends. by MASTAkiLLAh(m): 4:56pm On Jan 06, 2021 |
mekaboy:they've been stealing since 2015 so nothing new there |
Re: Fg To Borrow Dormant Account Balances, Unclaimed Dividends. by MASTAkiLLAh(m): 4:58pm On Jan 06, 2021 |
Maxymilliano:sai baba I heard this policy just like the recent electricity tariff hike wont affect APC imbéciles |
Re: Fg To Borrow Dormant Account Balances, Unclaimed Dividends. by olisaEze(m): 5:12pm On Jan 06, 2021 |
It’s a normal practice, just ask the Swiss. My issue however, is with a government that is known for bad debts. No bi d same voice wen dem dey take borrow moni dem dey ever use wen time reach to pay. The banks have a duty to protect the moneys of their customers. There is no expiration date for a customer's deposit. Whether alive or dead, make ona no come back kon tell me say government scam ona! They’re already scamming my life-span they shud not just coman stretch hand to money that they did not give me o! My ghost must swear for ona if that time comes. 1 Like |
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