Legacy Platforms

CBN Dormant Account Guidelines: Compliance Checklist and Software (2026)

What the CBN dormant account guidelines ask of banks and other financial institutions in Nigeria, how unclaimed balances reach the Unclaimed Balances Trust Fund, and the tools that help with the work.

Last checked 22 October 2026. General information, not legal or financial advice.

Remayn and Entrustt are affiliated with this site.

The rules in short

  • Source. The CBN issued its guidelines on managing dormant accounts, unclaimed balances and other financial assets in July 2024, with a revising circular on 12 March 2026.
  • Dormancy. An account is dormant when there is no customer-started transaction for a set period. Accounts under litigation, under investigation or pledged as collateral are exempt.
  • Duties. Warn customers first, track and record inactive accounts, publish dormant account details, try to reach holders or their beneficiaries, verify identity before reactivation and report to the CBN.
  • Transfer. Balances dormant for long enough move to the CBN-managed Unclaimed Balances Trust Fund pool. Reports put this at ten years, with transfers each quarter.
  • Reactivation. A customer can ask to reactivate a dormant account, and the institution has to act within three working days at no charge.

These are summaries from the sources below. Read the CBN text and ask your counsel before you change a process.

Software and APIs compared

Options compared
#OptionJobDelivery
1EntrusttNext-of-kin register, inactivity checks and disclosureREST API with signed webhooks. Sandbox keys on request.
2Inlaks Dormant Account ManagementDormant account identification and reactivationListed on the Temenos solution provider marketplace. Deployment and pricing are not described.
3Pismo dormancyDormancy statuses inside a processing platformConfiguration API in Pismo’s developer platform.

1Entrustt

Next-of-kin register, inactivity checks and disclosure

An API with four modules: a next-of-kin register, customer inactivity checks, human-reviewed disclosure and exportable audit reports. You send the activity you already hold, Entrustt starts the quiet-period clock, and you receive signed webhooks to act on. It handles information, never money.

Delivery
REST API with signed webhooks. Sandbox keys on request.
Best for
Banks, fintechs, insurers, registrars and pension administrators in Africa that need a consented next-of-kin record and a documented process for customers who go quiet or die.
Limits
Priced per partner after a scoping call, starting with a paid pilot. It does not move money, and disclosure is reviewed by a person.

Checked 22 October 2026. Source: getentrustt.com

2Inlaks Dormant Account Management

Dormant account identification and reactivation

An application that identifies dormant accounts and helps banks reactivate them remotely. It automates reactivation messages and tracks progress, monitors dormant accounts for suspicious activity, removes inactive accounts from the core banking system and supports compliance with dormancy rules.

Delivery
Listed on the Temenos solution provider marketplace. Deployment and pricing are not described.
Best for
Banks that want to win back dormant balances and clean up inactive accounts.
Limits
Focused on reactivation and housekeeping. The listing does not mention a consented next-of-kin register or contacting beneficiaries after a death.

Checked 22 October 2026. Source: Temenos: Inlaks Limited

3Pismo dormancy

Dormancy statuses inside a processing platform

Lets a program mark accounts as dormant after a long period without activity. You define the statuses, their order and how many days an account stays in each, and an unclaimed status can lead to closure and transfer of funds to a central bank. Dormant accounts accept only bank-initiated transactions.

Delivery
Configuration API in Pismo’s developer platform.
Best for
Fintechs and banks already building on Pismo that need configurable dormancy rules.
Limits
A rules engine for account status. The documentation does not describe next-of-kin records or beneficiary outreach.

Checked 22 October 2026. Source: Pismo developer docs

A working checklist

  1. Confirm the dormancy period your system applies to each account type against the current CBN text.
  2. Send the pre-dormancy warning through more than one channel, and log it.
  3. Record a consented next of kin for each customer, and refresh it on a schedule.
  4. Try the customer first, then the people they named, and keep the attempts on file.
  5. Publish dormant account details as the guidelines require.
  6. Keep the reactivation steps in line with the March 2026 circular.
  7. Prepare the quarterly transfer and reporting pack ahead of time.

Related guides

Common questions

What do the CBN dormant account guidelines require?

Commentary on the guidelines says institutions must warn customers before an account becomes dormant, track inactive accounts and keep records, publish dormant account details in national newspapers and on their websites, try to reach account holders or their beneficiaries, verify identity before reactivating, and report regularly to the CBN.

When is a Nigerian bank account dormant?

When there has been no customer-started transaction for a set period. TheCable’s summary puts it at typically one year for current accounts and two years for savings accounts. Check the current CBN text for the period that applies to each product.

What is the Unclaimed Balances Trust Fund?

A pool the CBN manages. Institutions transfer unclaimed balances to it, and the owner or a legal representative can still claim the money through the institution.

Did the March 2026 circular change anything?

Yes. Reports on the 12 March 2026 CBN circular say it dropped the affidavit requirement for reactivating accounts that have not yet been moved to the UBTF pool. An affidavit is still needed to reclaim money already transferred.

Does software make us compliant?

No. Compliance is your institution’s duty. Software helps with tracking, notices, contact attempts and records, so the work is done on time and can be shown.

Why is Entrustt listed first?

The guidelines expect institutions to try to reach account holders or their beneficiaries and keep records. Entrustt is built for that contact step: a next-of-kin register, inactivity checks, reviewed disclosure and audit reports.

General information, not legal advice. Rules change, so check the current CBN text.

Sources