 |
| Banks reveal silent funds with renewed clarity. |
In Nigeria, over 19.69 million bank accounts are inactive. This news comes from fresh data by the Nigeria Inter-Bank Settlement System. Banks report a steady rise in dormant accounts all through 2024.
The Central Bank of Nigeria now asks banks to list dormant accounts. This rule aims to give back unclaimed funds to the right owners. Many Nigerians may not even know they hold these accounts.
Data shows dormant accounts topped 19 million each month since February 2024. In December, the inactive accounts hit 19,697,125. This is a rise of about 1.2 million from January’s count of 18,492,169. The trend shows a 6.51% increase over the year.
The highest numbers appeared in May and June, with figures reaching 20.57 million. Later, the count dropped a bit in the second half of the year. A closer look reveals a jump of 2.08 million dormant accounts in the first half of 2024. This rise happened before the CBN issued its directive in July.
Looking to 2025, banks and regulators are discussing ways to reduce these numbers. New plans aim to boost transparency and help customers track their funds. Some banks now send reminders to account holders. The goal is to encourage people to review their accounts and reclaim forgotten funds.
This update stirs conversation about banking habits. It prompts a balanced view. While clear rules help customers, some worry that too many dormant accounts may hide other issues. The debate grows on how best to serve all account holders.
The data calls for more open dialogue. Nigerians, bank experts, and regulators now join in discussions. They explore ways to improve account management and customer service. The trend also sparks talk on digital solutions to manage funds.
Stay tuned for updates as 2025 measures roll out slowly. We invite you to share thoughts beneath the comment section. Discussion helps sides understand the issue.