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Olugbemi. Adeyinka Ogunleye
1 month ago
Overview
Govt Borrows ₦100 Billion From Unclaimed Dividends, Dormant Accounts
The Federal Government recorded a N100bn borrowing from unclaimed dividends and dormant bank accounts, as new data from the Debt Management Office showed that funds warehoused under the Unclaimed Funds Trust Fund have been converted into government securities.
Latest figures from the DMO’s domestic debt stock report showed that “UFTF FGN Security” stood at N100bn as of December 31, 2025, representing about 0.12 per cent of the Federal Government’s total domestic debt.
The instrument, which is relatively small compared to conventional borrowings such as FGN bonds and Treasury bills, nonetheless highlights a controversial financing source rooted in private sector funds left unclaimed by investors and bank customers.
The UFTF refers to the Unclaimed Funds Trust Fund, a pool created under the Finance Act 2020 to warehouse idle financial assets. According to the National Debt Management Framework 2023–2027, unclaimed dividends of quoted companies and balances in dormant bank accounts that have remained inactive for at least six years are transferred into the fund.
More: https://punchng.com/govt-borrows-n100bn-from-unclaimed-dividends-dormant-accounts/
