Yes. If the loved one died in 2006, you may still be able to claim money held in her Nigerian bank account in 2026. The fact that 20 years have passed does not automatically mean the money is lost. The CBN's current rules specifically provide for reclaiming dormant/unclaimed balances by a legal reprRead more
Yes. If the loved one died in 2006, you may still be able to claim money held in her Nigerian bank account in 2026. The fact that 20 years have passed does not automatically mean the money is lost.
The CBN’s current rules specifically provide for reclaiming dormant/unclaimed balances by a legal representative, beneficiary or next-of-kin, provided the required evidence of entitlement is supplied. �
Central Bank of Nigeria
What you should do
1. Identify the bank and account
Find out the bank where she maintained the account.
If you know the account number, keep it.
If you don’t know the account number, the bank may still be able to investigate using her full name and other identifying information, subject to its verification procedures.
2. Establish that you have legal authority to claim If she died without leaving the money directly to you through an appropriate legal arrangement, you normally cannot simply walk into the bank and withdraw it because you are her child/relative.
You will generally need Probate or Letters of Administration or other appropriate evidence establishing your legal entitlement to the estate. CBN rules recognize executors/administrators for winding up a deceased person’s estate. �
Central Bank of Nigeria +1
3. Check whether the money has been transferred to the CBN’s Unclaimed Balances Trust Fund
After prolonged dormancy, qualifying balances can be transferred to the CBN. The CBN now provides an online search facility where you can search for unclaimed balances by account name or account number. �
CBN Unclaimed Balance Trust Fund
CBN Unclaimed Balance Trust Fund search�
4. If you find the account, approach the bank The CBN’s current guidance says a next-of-kin, legal representative or beneficial owner can make a claim through the financial institution, supported by the necessary legal evidence of title. �
Central Bank of Nigeria
Important point
If your loved one died in 2006, I would not start by assuming the money is still sitting at the original bank branch. There is a good possibility that, if the account remained untouched for many years, it may now be classified as a dormant/unclaimed balance and potentially transferred to the CBN’s trust fund.
Also, there is no fee for processing an unclaimed-balance reclaim under the CBN’s stated guidelines. �
In Nigeria, a child can ultimately inherit a late father's shares, mutual funds, bonds, money-market investments and other financial assets, but normally the child cannot simply approach the stockbroker and withdraw or transfer them. The assets first have to be dealt with as part of the deceased's eRead more
In Nigeria, a child can ultimately inherit a late father’s shares, mutual funds, bonds, money-market investments and other financial assets, but normally the child cannot simply approach the stockbroker and withdraw or transfer them. The assets first have to be dealt with as part of the deceased’s estate.
1. First establish whether there was a Will
There are two main situations:
A. Father left a valid Will
The Will should identify the beneficiaries and appoint an executor/executors.
The executor obtains a Grant of Probate from the appropriate Probate Registry.
The executor then administers the investments according to the Will.
B. Father died without a Will
The family applies for Letters of Administration.
The Probate Registry appoints the administrator(s).
The administrator(s) collect and administer the deceased’s investments before distributing them to the lawful beneficiaries.
For shares specifically, SEC rules provide for transmission to the deceased’s legal representatives, subject to the required documentation. �
SEC Nigeria +1
2. Find all the father’s investments
This is very important because families sometimes know about only one or two investments.
Look for:
CSCS statement/CHN
Stockbroker account details
Share certificates
Dividend warrants or e-dividend records
Bank statements showing dividend payments
Mutual fund statements
Money-market fund accounts
Treasury bills/bonds
Investment apps/platforms
Pension or insurance investments
Fixed deposits
Other securities
If the family doesn’t know which shares he owned, CSCS has services such as Global Search, stock-position statements and portfolio valuation that can help establish holdings. �
CSCS
3. Obtain the death certificate
The original death certificate or acceptable certified documentation will normally be required when processing the deceased’s investments. SEC’s published transmission requirements specifically include the original death certificate for sighting. �
SEC Nigeria
4. Obtain Probate or Letters of Administration
This is usually the critical step.
The family should approach the Probate Registry of the appropriate State High Court to process the estate.
The legal representative—not simply one of the children—will generally be the person authorised to deal with the investments.
5. Approach the stockbroker/registrar/CSCS
Once Probate or Letters of Administration has been obtained, the legal representative can approach the relevant institutions.
For Nigerian shares, the process can involve:
CSCS → Stockbroker → Registrar
CSCS confirms that for an estate account, documentation can include the Will/Letter of Administration, along with identification for the person being captured on behalf of the estate. �
CSCS
The registrar may require documents including:
Letter introducing the executor/administrator
Death certificate
Probate or Letters of Administration
Newspaper advert/Gazette where applicable
Evidence that the deceased owned the shares, such as CSCS statements, share certificates or dividend records. �
SEC Nigeria
6. The assets are then distributed to the beneficiaries
Suppose the deceased left:
₦20 million in Nigerian shares
₦10 million in a money-market fund
₦5 million in Treasury bills
₦3 million in other investments
The total investment estate could be ₦38 million.
The executor/administrator doesn’t simply give the entire ₦38 million to the eldest child. The assets are administered according to the Will or applicable succession law, after settling legitimate estate obligations and expenses.
If the child is a minor, the situation is different. The child’s inheritance may need to be held and administered by an appropriate legal representative/trustee until the child reaches the relevant age or pursuant to the court’s directions.
Important point
Being the deceased’s biological child does not, by itself, give the child authority to sell or withdraw the father’s shares.
The safer sequence is:
Father dies → locate investments → obtain death certificate → Probate/Letters of Administration → identify estate assets → transmission/collection → settle estate obligations → distribute to beneficiaries.
Also, don’t allow a family member to sell the deceased’s shares merely because they possess his CSCS statement, password, phone or broker details. There have been regulatory cases involving unauthorised dealings in deceased investors’ shares, and the SEC has required restoration of shares to estates.
SEC Nigeria
Can I Still Claim a Deceased Relative’s Bank Account in Nigeria After 20 Years?
Yes. If the loved one died in 2006, you may still be able to claim money held in her Nigerian bank account in 2026. The fact that 20 years have passed does not automatically mean the money is lost. The CBN's current rules specifically provide for reclaiming dormant/unclaimed balances by a legal reprRead more
Yes. If the loved one died in 2006, you may still be able to claim money held in her Nigerian bank account in 2026. The fact that 20 years have passed does not automatically mean the money is lost.
See lessThe CBN’s current rules specifically provide for reclaiming dormant/unclaimed balances by a legal representative, beneficiary or next-of-kin, provided the required evidence of entitlement is supplied. �
Central Bank of Nigeria
What you should do
1. Identify the bank and account
Find out the bank where she maintained the account.
If you know the account number, keep it.
If you don’t know the account number, the bank may still be able to investigate using her full name and other identifying information, subject to its verification procedures.
2. Establish that you have legal authority to claim If she died without leaving the money directly to you through an appropriate legal arrangement, you normally cannot simply walk into the bank and withdraw it because you are her child/relative.
You will generally need Probate or Letters of Administration or other appropriate evidence establishing your legal entitlement to the estate. CBN rules recognize executors/administrators for winding up a deceased person’s estate. �
Central Bank of Nigeria +1
3. Check whether the money has been transferred to the CBN’s Unclaimed Balances Trust Fund
After prolonged dormancy, qualifying balances can be transferred to the CBN. The CBN now provides an online search facility where you can search for unclaimed balances by account name or account number. �
CBN Unclaimed Balance Trust Fund
CBN Unclaimed Balance Trust Fund search�
4. If you find the account, approach the bank The CBN’s current guidance says a next-of-kin, legal representative or beneficial owner can make a claim through the financial institution, supported by the necessary legal evidence of title. �
Central Bank of Nigeria
Important point
If your loved one died in 2006, I would not start by assuming the money is still sitting at the original bank branch. There is a good possibility that, if the account remained untouched for many years, it may now be classified as a dormant/unclaimed balance and potentially transferred to the CBN’s trust fund.
Also, there is no fee for processing an unclaimed-balance reclaim under the CBN’s stated guidelines. �
How Can a Child Claim His Late Father’s Shares and Investments in Nigeria?
In Nigeria, a child can ultimately inherit a late father's shares, mutual funds, bonds, money-market investments and other financial assets, but normally the child cannot simply approach the stockbroker and withdraw or transfer them. The assets first have to be dealt with as part of the deceased's eRead more
In Nigeria, a child can ultimately inherit a late father’s shares, mutual funds, bonds, money-market investments and other financial assets, but normally the child cannot simply approach the stockbroker and withdraw or transfer them. The assets first have to be dealt with as part of the deceased’s estate.
See less1. First establish whether there was a Will
There are two main situations:
A. Father left a valid Will
The Will should identify the beneficiaries and appoint an executor/executors.
The executor obtains a Grant of Probate from the appropriate Probate Registry.
The executor then administers the investments according to the Will.
B. Father died without a Will
The family applies for Letters of Administration.
The Probate Registry appoints the administrator(s).
The administrator(s) collect and administer the deceased’s investments before distributing them to the lawful beneficiaries.
For shares specifically, SEC rules provide for transmission to the deceased’s legal representatives, subject to the required documentation. �
SEC Nigeria +1
2. Find all the father’s investments
This is very important because families sometimes know about only one or two investments.
Look for:
CSCS statement/CHN
Stockbroker account details
Share certificates
Dividend warrants or e-dividend records
Bank statements showing dividend payments
Mutual fund statements
Money-market fund accounts
Treasury bills/bonds
Investment apps/platforms
Pension or insurance investments
Fixed deposits
Other securities
If the family doesn’t know which shares he owned, CSCS has services such as Global Search, stock-position statements and portfolio valuation that can help establish holdings. �
CSCS
3. Obtain the death certificate
The original death certificate or acceptable certified documentation will normally be required when processing the deceased’s investments. SEC’s published transmission requirements specifically include the original death certificate for sighting. �
SEC Nigeria
4. Obtain Probate or Letters of Administration
This is usually the critical step.
The family should approach the Probate Registry of the appropriate State High Court to process the estate.
The legal representative—not simply one of the children—will generally be the person authorised to deal with the investments.
5. Approach the stockbroker/registrar/CSCS
Once Probate or Letters of Administration has been obtained, the legal representative can approach the relevant institutions.
For Nigerian shares, the process can involve:
CSCS → Stockbroker → Registrar
CSCS confirms that for an estate account, documentation can include the Will/Letter of Administration, along with identification for the person being captured on behalf of the estate. �
CSCS
The registrar may require documents including:
Letter introducing the executor/administrator
Death certificate
Probate or Letters of Administration
Newspaper advert/Gazette where applicable
Evidence that the deceased owned the shares, such as CSCS statements, share certificates or dividend records. �
SEC Nigeria
6. The assets are then distributed to the beneficiaries
Suppose the deceased left:
₦20 million in Nigerian shares
₦10 million in a money-market fund
₦5 million in Treasury bills
₦3 million in other investments
The total investment estate could be ₦38 million.
The executor/administrator doesn’t simply give the entire ₦38 million to the eldest child. The assets are administered according to the Will or applicable succession law, after settling legitimate estate obligations and expenses.
If the child is a minor, the situation is different. The child’s inheritance may need to be held and administered by an appropriate legal representative/trustee until the child reaches the relevant age or pursuant to the court’s directions.
Important point
Being the deceased’s biological child does not, by itself, give the child authority to sell or withdraw the father’s shares.
The safer sequence is:
Father dies → locate investments → obtain death certificate → Probate/Letters of Administration → identify estate assets → transmission/collection → settle estate obligations → distribute to beneficiaries.
Also, don’t allow a family member to sell the deceased’s shares merely because they possess his CSCS statement, password, phone or broker details. There have been regulatory cases involving unauthorised dealings in deceased investors’ shares, and the SEC has required restoration of shares to estates.
SEC Nigeria