The Central Bank of Nigeria (CBN) has revised its guidelines on the management of dormant accounts, removing the mandatory requirement for affidavits when customers seek to reactivate such accounts.
In a circular dated March 12, 2026, and issued to banks and other financial institutions, the apex bank stated that it had “rescinded the requirement under Section 8.0 (ii) for the mandatory use of affidavits in the reactivation of dormant accounts,” following representations from stakeholders.
The circular, signed by the Director of the Financial Policy and Regulation Department, Dr. Rita Sike, explained that the decision forms part of measures to simplify the process of reactivating dormant accounts while maintaining safeguards to protect the integrity of the financial system.Get The Full, Articles. .
𝗙𝗼𝗹𝗹𝗼𝘄 𝗢𝘂𝗿 𝗪𝗵𝗮𝘁𝘀𝗔𝗽𝗽 𝗖𝗵𝗮𝗻𝗻𝗲𝗹 𝗧𝗼 𝗚𝗲𝘁 𝗟𝗮𝘁𝗲𝘀𝘁 𝗡𝗲𝘄𝘀 𝗔𝘀 𝗜𝘁'𝘀 𝗗𝗿𝗼𝗽!
