FG Taps N100bn in Unclaimed Dividends to Fund Government Debt

The Federal Government has issued N100bn in securities backed by unclaimed dividends and balances from dormant accounts. Data from the Debt Management Office shows the Unclaimed Funds Trust Fund now holds these government securities as part of the domestic debt stock. The Unclaimed Funds Trust Fund was set up under the Finance Act 2020 to warehouse dividends unclaimed for at least six years and idle bank account balances. The Debt Management Office, in partnership with the Central Bank of Nigeria and the SEC, can invest these pooled assets in Federal Government securities. As of December 2025, total domestic debt stood at about N80.5tn, with bonds and Treasury bills making up 96 per cent. Though the unclaimed funds share is relatively small at 0.12 per cent, critics warn that using private assets this way raises legal and ethical concerns. In mid-2024, the CBN updated guidelines requiring banks to transfer dormant accounts and unclaimed balances older than ten years into a dedicated trust fund. These funds may be invested in government securities, but must be refundable on request within ten working days.

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