Nigeria, Feb. 19 -- The Central Bank of Nigeria (CBN) has directed all banks and other financial institutions to disclose details of dormant accounts, including the names of account holders, the type of accounts, and the branches where the accounts are domiciled.

The directive, issued in a circular dated 17 February and signed by the Director, Financial Policy and Regulation Department, Micheal Akuka, requires these details to be published on banks' websites, industry association websites, and in at least two national newspapers.

The move follows the implementation of the Guidelines on the Management of Dormant Accounts, Unclaimed Balances, and Other Financial Assets in Banks and Other Financial Institutions in Nigeria 2024. The guideli...