45 Million Accounts Not Linked To BVN, N1.2tn Stuck In Nigerian Commercial Banks – Reps

The House of Representatives’ Ad Hoc Committee on Unclaimed Funds in the Nigerian Commercial Banks and Infractions by the Central Bank of Nigeria has begun investigation of funds stuck in the Deposit Money Banks, also known as commercial banks, due to the failure to link the account holding them to a Bank Verification Number and the Treasury Single Account policy of the Federal Government.

The committee is particularly probing into the over 45 million accounts said to be holding funds amounting to over N1.2tn.

The House had on January 26, 2022, resolved to set up the committee to investigate the “suspicious and unclaimed funds” sitting with various accounts.

The House had mandated the committee to also investigate the unremitted funds collected on behalf of ministries, departments and agencies of the Federal Government by the banks.

The House had further mandated the committee to look into the alleged “several infractions by the Central Bank of Nigeria against the provisions of the enabling Act and Laws of the Federal Republic of Nigeria and the good people of Nigeria, especially in the area of intervention projects and programs.”

The committee is to report back within eight weeks for further legislative action.

About Don Saint

PR Guru / Author / Promoter / Controversial Writer / Hip Hop Artiste / Actor / Human Rights Activist. The First Nigerian Hip Hop Artiste to obtain a Masters Degree (M.A) in Arts ( Religion & Human Relations). The author of one of the most controversial books in Nigeria; "Emancipation from Masturbation". With over 12 Movies and 3 Musical albums since 2003. Former Events Manager at Silverbird’s Rhythm Fm Awka Station till 2010. For more info. Call : 08033239298.

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