Nigeria Borrows N100bn from Unclaimed Funds and Accounts

The Nigerian government has borrowed N100 billion from unclaimed dividends and dormant bank accounts, according to new data from the Debt Management Office (DMO). This borrowing is part of the Unclaimed Fund Trust Fund (UFTF), which was established under the Finance Act of 2020 to manage unclaimed financial assets.

As of December 31, 2025, the UFTF's Federal Government Securities stood at N100 billion, representing 0.12% of the federal government's total domestic debt. The DMO reported that the total domestic debt of the federal government reached N80.49 trillion, with FGN bonds accounting for 79% and treasury bills for 17%.

The Central Bank of Nigeria (CBN) has directed financial institutions to transfer dormant account balances, which have remained inactive for at least ten years, to a dedicated account known as the Unclaimed Balances Trust Fund Pool Account. The CBN's guidelines stipulate that these funds will be invested in Nigerian treasury bills, and beneficiaries can request refunds within ten working days of their request.