If your Nigerian bank account is dormant for 6 years…

What happens to funds in a dormant bank account in Nigeria after the 6 years has elapsed and there's nobody to claim it?We had an elderly customer in the Bank, who usually makes one bulk withdrawal from his savings account every year.Young men, supposedly posing as his sons, came with his death certificate, to report he was dead.They also informed the Bank that they were in the process of obtaining a letter of administration, that will give them access to his funds.In Nigeria, this is usually done through the courts and can take awhile.As they were working on this, the Customer went to one of our branches and attempted to make his usual once a year transaction.His account at that time was frozen and flagged 'deceased' and the Bank was in the process of verifying the death certificate submitted by his supposed sons.The urgent interview with him, helped the Bank to arrest the young men, his close relatives, who were in the process of obtaining a letter of administration that will give them access to his large funds.Though the Bank sends all such documents for official verification, these fraudsters through mail intercepts can tamper with such confirmations.The above scenario occurred with an inactive account, an account becomes inactive if no transaction has occurred on it in the last six months.After a year of no transaction, the account becomes dormant and the balance is transferred to a warehousing Dormant account in the Bank.Dormant accounts are time Bombs most Nigerian Banks are very careful about, as fraudsters can go to any length to have access to these funds .Monthly, quarterly and yearly reports on all dormant balances are made by Banks to the monitoring authorities.At the expiration of the six years, the monitoring Authority will advise the Bank on the further handling of these funds.Source: https://www.quora.com/What-happens-t...dy-to-claim-it Perfect Money/Payeer/Epay/Neteller: www.ituglobalfx.com.ng