- The Central Bank of Nigeria (CBN) is moving to mop-up funds in dormant accounts
- The new guidelines shall include funds in savings, current and domiciliary, and other accounts
- The bank said it shall warehouse the funds in a standard account and invest them in interest-yielding ventures
The Central Bank of Nigeria (CBN) has issued new guidelines to commercial banks on the operations of dormant accounts which have received no deposit or withdrawal for upwards of one year.
The new guideline is contained in the bank’s circular to commercial banks issued on Wednesday, April 12, 2023.
