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A 17-year-old female student of the Imo State University, Owerri, Jesse Chidebere, has been arrested by the Orji Police Divisional Headquarters for faking her abduction and death. The police spokesperson, Henry Okoye, on Monday, in a statement, disclosed that the hoax caused “significant distress to her family and the university community.” It read, “Last Saturday,
At least 18 people died during a stampede at a railway station in India’s capital late Saturday when surging crowds scrambled to catch trains to the world’s largest religious gathering, officials and reports said. The Kumbh Mela attracts tens of millions of Hindu faithful every 12 years to the northern city of Prayagraj, and has
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At least 18 people died during a stampede at a railway station in India’s capital late Saturday when surging crowds scrambled to catch trains to the world’s largest religious gathering, officials and reports said. The Kumbh Mela attracts tens of millions of Hindu faithful every 12 years to the northern city of Prayagraj, and has
The Central Bank of Nigeria, CBN, has announced new guidelines for management of dormant accounts, unclaimed balances, and other financial assets in banks and other financial institutions across the country. CBN now requires banks and certain other financial institutions to publish on their websites the names of individuals authorised to operate these accounts. It also
CBN announces new guidelines on management of dormant accounts, unclaimed balances
The Central Bank of Nigeria, CBN, has announced new guidelines for management of dormant accounts, unclaimed balances, and other financial assets in banks and other financial institutions across the country.
CBN now requires banks and certain other financial institutions to publish on their websites the names of individuals authorised to operate these accounts.
It also mandates financial institutions to disclose the type of account and the address of the branch where the account is domiciled.
This was contained in a statement signed by Michael Akuka on behalf of the Director of the Financial Policy and Regulation Department of CBN.
“The Guidelines on Management of Dormant Accounts, Unclaimed Balances and Other Financial Assets in Banks and Other Financial Institutions in Nigeria 2024 require banks and some other financial institutions to publish on their websites the names of individuals authorised to operate the accounts, the type of account, and the address of the branch where the account is domiciled. In the case of other financial institutions (OFIs) without websites, this information must be published on their association’s website.
“In furtherance thereof, and in response to enquiries from stakeholders regarding the possible breach of the Nigeria Data Protection Act, 2023 (NDPA), banks and other financial institutions are required to note the following: “Section 25 (b) of the NDPA permits justifiable deviations from the general principles of the Act. Additionally, Section 72 (ii) of the Banks and Other Financial Institutions Act mandates the Central Bank of Nigeria to issue guidelines on the administration of unclaimed funds in banks and other financial institutions.
“Information to be published on banks’ websites, as well as the association’s website (where applicable), shall include the name of the account, the type of account, the name of the bank, and the branch where the account is domiciled ONLY.
“Information to be published annually in at least two national daily newspapers or at the premises of state and unit microfinance banks shall also convey the details as listed in (2) above,” the statement read.
CBN announces new guidelines on management of dormant accounts, unclaimed balances
The Yoruba community in Borno State has called for urgent support for its 4,600 members who were affected by the recent flooding that submerged 70 per cent of Maiduguri and its environs The President of the Yoruba Community in Borno State, Saka Abiodun, who made the appeal while speaking with newsmen in Maiduguri on Thursday
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The Yoruba community in Borno State has called for urgent support for its 4,600 members who were affected by the recent flooding that submerged 70 per cent of Maiduguri and its environs The President of the Yoruba Community in Borno State, Saka Abiodun, who made the appeal while speaking with newsmen in Maiduguri on Thursday