Unclaimed monies in dormant accounts of up to 10 years to be invested in Treasury bills

Unclaimed monies in dormant accounts of up to 10 years to be invested in Treasury bills

The Central Bank of Nigeria, CBN proposes that monies in accounts that have been dormant for up to 10 years be invested in Treasury Bills.

Emefiele

This is contained in the recent exposure draft of guidelines on the Management of Dormant Accounts, Unclaimed Balances, and Other Financial Assets in Banks and Other Financial Institutions In Nigeria. According to a circular accompanying the exposure draft, the guideline was in response to requests from banks and other stakeholders for the CBN to clarify the procedures for the management of dormant and inactive accounts by banks in the country. The circular which was signed by the Director of the Financial Policy and Regulation Department of the apex bank, Chibuzor Efobi, also called for inputs that should be sent within three weeks. CBN The draft states that banks and Other financial institutions (OFIs) are expected to transfer all unclaimed balances in accounts that have been dormant for up to 10 years into an Unclaimed Balances Trust Fund (UBTF) pool account which will be domiciled at the CBN. They are also expected to transfer unclaimed balances quarterly, not later than 15 days of the first month of the subsequent quarter; and retain all records of communication on the management of dormant accounts for a minimum of 10 years.

Nedu spills how female celebrities make their monies

GistReel

Popular media personality Nedu Wazobia has sparked some reactions after he revealed how some female celebrities make their money. Nedu Wazobia Nedu has caused a lot of people to talk on social media after he made a shocking revelation about how some female celebrities make their monies. In a discussion on a Podcast, Nedu Wazobia disclosed how he saw two popular female influencers who slept with his rich friend at Transcorp Hilton Hotel in Abuja. In his words; “I have walked in once on some of your influencers/celebrities two of them having a threesome with somebody I know.”  “Yes, I said it. I have walked in on two of your favorite influencers/celebrities in Transcorp Hilton Hotel, Abuja. They saw me and they expect me to respect them and I respect them enough not to mention their names.” Although he didn’t the names of the popular celebrities, he hinted that the two ladies were Big Brother Naija’s former, housemates.