Your dormant bank account could be racking up debts in your name.


  • Many Nigerians are unaware that their bank accounts may be debited by their banks if they have been idle for some time.
  • Customers have complained that their accounts, which had been idle for years, had accrued large quantities of money.
  • Customers should deactivate rather than quit their bank accounts, according to experts, in order to avoid incurring unnecessary charges.
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Many Nigerians may be surprised to learn that their bank accounts, which they thought were dormant and ignored, are being debited on a regular basis by their banks.

Debts totaling N30,000 have accumulated in an account that has been abandoned for nine years.

In one case, a Legit-ng reader claimed that he had neglected his bank account with a popular bank in Nigeria (name withheld) for eight years, just before depositors were required to link their accounts to their National Identity Number (NIN), and that when he went to reactivate the account, he discovered that it had accumulated debts totaling thousands of dollars.

He claimed that after abandoning the account in 2013 due to trips overseas, he returned to link it to his NIN and discovered a N30,000 deficit on it. When he brought it up with the bank, he was told that he needed to pay off the bills in order to keep the account open.

He said:

“I was actually surprised to see that the account I abandoned and actually told the bank to deactivate is still active and accumulating debts on my behalf. “I tried drawing the attention of the bank to the fact that I actually requested in writing that the account be closed, what I got from the bank was that they could not locate my letter and that the management has changed over time.”

Depositors should check with their banks from time to time to see if there is anything strange going on with their accounts, according to the respondent who requested anonymity.

A professional solution

According to Justin Ofor, an ex-banker, accounts going into dormancy does not mean they are no longer active. It’s just that the account hasn’t been used in a while.

According to Ofor:

“When customers abandon their accounts, it means their accounts are in existence and the banks can charge for various things like maintenance, SMS, emails and so on. So, what a customer should do in that case is try to drop a small change into the accounts from time to time.”

Banks, according to Ofor, are in business, and holding an account with them is similar to renting an apartment while still a tenant. It makes no difference whether you reside there or not. You will continue to pay rent as long as the flat is in your name.

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