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13 January 2021

Federal Government Allays Fears on Unclaimed dividends, Dormant accounts, pulled to fund Budget.

Amidst controversies arising from some provisions in the Finance Act, the Federal Government says Owners of dormant accounts and unclaimed dividends have unhindered access to their investments returns and funds upon rightful claims to their entitlements.

The Minister of Finance, Budget and National Planning, Zainab Ahmed, who made known during the virtual presentation of the Twenty Twenty One budget breakdown in Abuja, stated that eight hundred and fifty billion Naira was expected to be pulled into a Special Trust Fund as part of domestic measures to fund the Budget deficit.

Speaking on the Twenty Twenty One Borrowing Plan, the Director General, Debt Management Office, Patience Oniha, said the Federal Government would borrow fifty per cent of the four point sixty-eight trillion Naira from the domestic market and the other half from international sources to finance the budget.


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