According to the dormant account database released by the Nigerian Interbank Settlement System, the number of dormant accounts in the Nigerian banking industry has risen to more than 19.69 million in the new policy measures of the Nigerian Central Bank.
Additionally, data tracking monthly account status throughout 2024 shows that inactive accounts for Nigerian banks continue to grow.
It stressed that dormant accounts have maintained more than 19 million monthly since February 2024, with 19,697,125 inactive accounts closed in December. This is an increase of 1,205,000 from January’s 18,492,169 figure, marking an annual 6.51%.
The peak was recorded in May and June, when the number reached 20.57 million, before falling slightly in the second half of the year.
The data further suggests that between the first six months of 2024, before CBN’s instructions for such accounts last July, 2.08 million dormant accounts increased.
This comes after CBN on Tuesday directed all banks to disclose details of their dormant accounts, unclaimed and other financial assets.
