Business
Dormant accounts are more susceptible to fraud, CBN wants to safekeep the funds – Cardoso
The Governor of the Central Bank of Nigeria (CBN), Mr. Yemi Cardoso has stated that dormant accounts in Nigeria are more susceptible to fraudsters in Nigeria and the reason for the Central Bank of Nigeria (CBN) latest policy is for safe keeping of the funds in dormant accounts..
Mr. Yemi Cardoso stated this during the 296th meeting of the apex bank’s Monetary Policy Committee (MPC) where benchmark interest rate was raised by 50 basis points to 26.75%.
According to the CBN Governor, the apex bank will keep the funds and would give it back to owners whenever they come for it and the profits that accrue from it also.
He stated, “With respect to dormant account, what I found personally if you leave account dormant in banks, sometimes more than when you don’t leave them dormant in banks. In fact, most times, they are more susceptible to fraudsters copying your identity and trying to gain hold of the system to grab your money. So, that is a problem I think most money banks face”
“The policy and the directive is meant to ensure that all those monies come to the Central Bank for safe keeping and it is at zero cost to the beneficiaries. All that will happen is that the central bank will manage the money within our possession and when the rightful owner surfaces, the money is returned plus whatever income is accrued to you.”
“The quality of a woman isn’t measured by the hair on her head but by her brain” – Yul Edochie cautions ladies against killing themselves over expensive hair this Christmas
President Tinubu cancels Lagos engagements in honor of food stampede victims
Moment stage collapses on Odumodublvck during concert performance (Video)
Goods worth millions of naira destroyed as fire guts spare parts market in Ibadan
Farmer k!lled, three siblings and one other severely injured as bomb explosions rock Niger state community
Video trends as Nigerian lady transforms face into Jesus Christ with makeup (Watch)
Lady swaps old woman’s ATM card while pretending to help, steals N2M
“The money wey dem pay me don expire” – Moment Burna Boy stops his performance at the Oando PLC end of the year party (Video)
-
Celebrity Gossip & Gist1 day ago“The money wey dem pay me don expire” – Moment Burna Boy stops his performance at the Oando PLC end of the year party (Video)
-
Economy1 day agoGoods worth millions of naira destroyed as fire guts spare parts market in Ibadan
-
Celebrity Gossip & Gist6 hours agoMoment stage collapses on Odumodublvck during concert performance (Video)
-
Economy6 hours agoPresident Tinubu cancels Lagos engagements in honor of food stampede victims