Nigerian Government Move to Borrow Dormant Account Balances, Unclaimed Dividends
Jan 8, 2021 ·
19m 29s
The Nigerian government has perfected ways to borrow funds from unclaimed dividends and dormant bank account balances unattended for at least six years, thanks to the 2020 Finance Act. With...
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The Nigerian government has perfected ways to borrow funds from unclaimed dividends and dormant bank account balances unattended for at least six years, thanks to the 2020 Finance Act.
With the coming into force of the law, which empowers the federal government to borrow from the two sources, proceeds from the two sources will stand as special credit to the federal government through the Unclaimed Funds Trust Fund contained in the Finance Act 2020, recently signed into law by President Muhammadu Buhari.
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With the coming into force of the law, which empowers the federal government to borrow from the two sources, proceeds from the two sources will stand as special credit to the federal government through the Unclaimed Funds Trust Fund contained in the Finance Act 2020, recently signed into law by President Muhammadu Buhari.
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