Unclaimed Dividend, Dormant Account Special Trust Fund Available To Owners — Zainab Ahmed
Owners of dormant accounts and unclaimed dividends have nothing to lose as they would be paid their entitlements, from the Special Trust Fund to be set up by the federal government, once they are properly identified.
The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, made the clarification while fielding questions during the virtual presentation of the 2021 federal government budget, yesterday.
“The unclaimed dividend and dormant accounts will be pooled into a Special Trust Fund.
At any time that a bank or the registrar confirms that this is the true owner of such funds, the government will release such funds,”
the minister said in response to a question on whether the federal government wanted to use the controversial fund to finance its budget deficit.
On the implementation of the 2020 budget, Mrs. Ahmed disclosed that N1, 8 trillion has been spent on capital budget and that the implementation of the capital budget would continue until March 31, 2021.
She explained that the necessary approval to that effect had been received, indicating that both 2020 and 2021 budgets would run concurrently until the end of the first quarter of the year.