Menu
On July 19, 2024, the Central Bank of Nigeria (CBN) issued the revised guideline on the management of Dormant Accounts and other Unclaimed Funds. This revision markedly supersedes the 2015 guideline. The guideline essentially highlights the regulatory regime for managing dormant accounts and unclaimed balances and outlines the procedure for transferring balances, assets, and funds to CBN by Financial Institutions (FIs). Proper implementation of the guideline will strengthen the CBN’s oversight functions over Financial Institutions (FIs) in the management of dormant and unclaimed balances.
This paper concisely explains the revised guideline’s key provisions and examines its impact on stakeholders in the financial industry.
On May 13, 2024, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) announced the commencement of the 2024 Nigeria Petroleum Licensing Round and the resumption of
Intellectual Property encompasses a broad spectrum of intangible assets, including inventions, literary and artistic works, designs, symbols, names, and images used in commerce. Given the
