Step‑by‑Step Guide to Reactivating a Dormant Bank Account in Nigeria

If you are a student or working in Nigeria, your bank account might become dormant if you don’t use it for a long time. When that happens, you can’t withdraw money or do some transactions until you reactivate the account.

What Does “Dormant Bank Account” Mean in Nigeria?

A dormant account is a type of bank account that has had no customer‑initiated activity for a certain period. That means no deposit, withdrawal, fund transfer, or other legitimate actions done by you, the account owner.
According to the Central Bank of Nigeria (CBN) guidelines, accounts that have been inactive for 10 years or more may be classified as dormant or unclaimed balances.

Why Do Banks or CBN Mark Accounts as Dormant?

To prevent fraud, identity theft, or misuse of accounts.
To reduce costs of maintaining many inactive accounts.
To comply with regulations: the CBN has rules that banks must follow in managing dormant accounts, unclaimed balances, and other financial assets.
The CBN wants banks to contact customers to inform them before marking an account as dormant.

When Does an Account Become Dormant?

Period of inactivity: 10 years is a key benchmark for accounts to be considered dormant / unclaimed under the current CBN rules.
But note: some banks might treat shorter periods as “inactive” or “inactive account” before making it “dormant.” Always check your bank’s specific policy.
Other triggers: no transaction, no use of ATM / debit card, no deposits, no withdrawals, no transfers.

Understanding the Regulations: What CBN Says

Latest CBN Guidelines on Dormant & Unclaimed Accounts

The Guidelines on the Management of Dormant Accounts, Unclaimed Balances and Other Financial Assets in Banks and Other Financial Institutions issued by CBN (July 25, 2024) are binding.
These operationalize Section 72 of the Banks and Other Financial Institutions Act (BOFIA) 2020.

What Types of Accounts Are Eligible or Affected

Savings accounts, current accounts, domiciliary accounts (foreign currency), term deposits in local currency. Prepaid card accounts, wallets, deposits toward shares or mutual investments.

Exemptions, Transfer of Unclaimed Balances, Timeframes

If account is involved in active litigation, under regulatory investigation, or has liens or other encumbrances, some exemptions apply.
After 10 years of dormancy / inactivity, unclaimed funds may be transferred to a “Unclaimed Balances Trust Fund (UBTF) Pool Account.”
The bank must notify customers when accounts become inactive and regularly thereafter.

Why Reactivation Is Important: Pros and Cons

Pros of Reactivating a Dormant Account

Benefit	Explanation
Regain access to your money	You can withdraw, transfer or use funds in the account.
Restore full banking services	You can use ATM/debit card; receive new ones if expired.
Ensure any interest or profit is paid	If the bank had accruable interest, reactivation may allow you to claim it. CBN requires refund of principal + interest for some accounts. Business Nigeria+1
Avoid losing unclaimed funds	After long dormancy, funds might go to CBN’s trust fund or be harder to retrieve.
Maintain good financial record / standing	Having active accounts helps credit, employment, or other banking services.

Cons or Challenges of Reactivating Dormant Accounts

Possible document requirements that you may not have readily: valid ID, proof of address, affidavit.
Time cost: going to bank, filling forms, waiting.
In some banks, you might need to update Know‑Your‑Customer (KYC), if your details are outdated (e.g. new address, new photo).
If account has been unused for very long, small fees or charges may have been applied (maintenance, SMS etc.). You might have to settle those.
If funds have been moved to CBN after 10 years and process may be more involved.

Step‑by‑Step Process to Reactivate a Dormant Bank Account in Nigeria

Here is a detailed guide you can follow. Steps may vary slightly from bank to bank, but generally this is what is needed.

Step 1 – Confirm If Your Account Is Dormant

Contact your bank (branch, phone, mobile app, USSD) to check the status.
Ask: Has the bank marked the account as “inactive”, “dormant”, or “unclaimed”?
Request your bank to send you a written notice or notification (some banks do this automatically) of dormancy.

Step 2 – Gather Required Documents

Normally banks will ask for:

Document	Purpose
Valid means of identification	To prove who you are (e.g. National ID, Voter’s Card, International Passport, NIN).
Proof of address	Recent utility bills, tenancy agreement, etc.
Reactivation or Reclaim Form	A form provided by the bank to request reactivation.
Evidence of account ownership	Could be old passbook, old statement, ATM card, signature card.
Affidavit	Sometimes needed to confirm your details or that information is true.

Step 3 – Visit Bank or Use Bank’s Designated Channels

Go to the branch where you opened the account or any branch the bank allows for dormancy reactivation.
Alternatively, some banks may allow reactivation via email, mobile app, or digital channels. But because of KYC and physical verification, banks often require you physically visit.
Fill out the reactivation form: supply your account number, full name, contact details, updated address if changed.

Step 4 – Submit the Documents & Fulfill KYC

Submit all required documents (see above).
Update KYC if any details are outdated (for example, new address, new phone number, new ID).
If any fees are needed (some banks may charge minimal administrative charges, though CBN guidelines say reactivation should not incur fees in some cases).

Step 5 – Wait for Bank’s Review & Approval

The bank will verify your documents, confirm account ownership, check status.
Under CBN rules, reactivation should occur within 3 working days of receiving a written application, provided all documents are okay.
If account had been moved to “unclaimed balances” under the CBN, extra steps may be needed.

Step 6 – Receive Notification & Access Your Account

Once reactivated, the bank should notify you (SMS, email, letter).
After that you should be able to do transactions: withdrawals, transfers, use debit/ATM card, online banking etc.
It may be good to deposit or withdraw something small first to test (e.g. transfer from another account).

Examples of Bank‑Specific Procedures in Nigeria

Here are a few examples of how real banks or the CBN work on reactivating dormant accounts.

Standard Chartered Nigeria

Standard Chartered requires you to download, fill, and sign a reactivation form (plus possibly an indemnity form, tax information form).
Provide valid national ID, proof of address etc.
Once bank reviews and approves, reactivation can take 2‑4 working days.

CBN’s General Guidelines (All Banks)

CBN says account owners must complete a reactivation form, show evidence of identity, proof of residence, and provide an affidavit on the accuracy of information.
Banks must verify the information. Reactivate within 3 working days. The Cable+1
No charge should be made by the bank for reactivation of a dormant account. The Cable+2Business Nigeria+2

H2: Comparison: Dormant vs Inactive vs Unclaimed Balance

Term	Meaning	When It Applies	What It Impacts
Inactive	Account has had no customer‑initiated transaction for shorter period (could be 6‑12 months depending on bank)	Early stage, before dormancy	May lose privileges like SMS alerts, but still accessible after you perform a transaction.
Dormant	Longer period of inactivity (10 years in many cases per CBN) and more formal classification	When bank classifies as per guidelines	Some services blocked; might need formal reactivation.
Unclaimed Balance	Funds from accounts that haven’t had activity for very long (10 years or more) and that are transferred to trust fund or CBN’s unclaimed pool	After official dormancy and unclaimed status	Access requires reclaim process; bank may have moved funds.

H2: Common Issues & How to Handle Them

H3: When Bank Says Funds Moved to Unclaimed Balances

If your account was dormant beyond 10 years, bank might have transferred funds to CBN Unclaimed Balances Trust Fund. Business Nigeria+1
You will need to apply via bank + provide extra proof, possibly go through CBN’s process for reclaiming unclaimed funds.

H3: When ID or Address Is Outdated

If your ID is expired or your address has changed, the bank may reject the documents.
Solution: get new ID, get proof of address (recent utility bill, tenancy agreement etc.). Use notarized documents or affidavit if needed.

H3: Delay or Rejection

If documents are missing or not correctly filled. Always double check.
If the bank is slow, escalate: talk to branch manager or customer service.
If you find the bank wants fees you think it should not, refer to CBN guidelines.

H2: Tips to Avoid an Account Becoming Dormant

Use the account regularly: make small deposits or withdrawals.
Update your KYC details when you move, get new ID etc.
Keep contact information up to date with the bank.
Set reminders to login, check statement, make transfers.
If you think you won’t use the account, maybe close it or use it as savings vault with periodic small activity.

H2: Summary Table: Key Steps & Requirements

Here is a summary table before the conclusion to help you see all main steps, what documents, timeframes, and responsibility in one place.

Step Number	What You Do	Documents Needed	Timeframe Estimate	Who Is Responsible
1	Confirm your account is dormant (contact bank)	Your account number, identity, bank details	Same day or 1‑2 working days	You / Customer
2	Gather required documents	Valid ID, proof of address, account ownership proof, affidavit	Depends on how quickly you can get them (could be a few days)	You / Customer
3	Obtain reactivation form & fill it	Bank’s reactivation / reclaim form	At branch or digitally, usually same day	You / Customer
4	Submit documents & do KYC update	All required documents, up‑to‑date KYC	Within same day of visit or submission	You / Bank
5	Bank reviews & approves	Bank does verification	Usually within 3 working days under CBN rules	Bank
6	Get notification & regain access	Notification via SMS / email or letter	After approval; may take 1‑2 days more	Bank / Customer interaction
7	If funds moved to unclaimed status	Additional reclaim process via bank or CBN	May take longer depending on bank + CBN process	You / Bank / CBN

H2: FAQs (Frequently Asked Questions)

Here are 10+ common questions with clear answers.

What is the minimum time after which my account becomes dormant?
Under CBN rules, accounts inactive for 10 years can be classified dormant/unclaimed. However, banks may have “inactive” status earlier.
Will the bank charge me a fee to reactivate a dormant account?
According to CBN guidelines, there should not be a charge for reactivation of a dormant account. But some banks might charge small administrative or KYC update fees; check with your specific bank. The Cable+1
What if I don’t have the proof of address or ID any more?
You will need to get updated documents: get a new national ID / passport, utility bill, or similar. In some cases, a sworn affidavit may help (depending on bank).
Can I reactivate my dormant account online without visiting a branch?
Sometimes yes, especially if bank allows digital submission of forms, soft KYC, or email communication. But many banks require physical presence for identity verification.
If funds have been transferred to CBN’s Unclaimed Balances Trust Fund, can I still get them back?
Yes. You can reclaim via your bank and possibly through CBN, by following “reclaim” procedure and providing required proof.
How long will reactivation take?
CBN rules say within 3 working days after submission of written application and proper documents. Some banks might take 2‑4 days (or more) depending on volume and complexity.
Will interest or profits be paid on dormant account balances?
If the account was interest‑bearing, yes; the bank or CBN should refund the principal plus interest (or profit) when it becomes unclaimed, under current guidelines. Business Nigeria+1
What if I moved house and bank has old address?
Update your address in bank records. You’ll need proof of new address (utility bill etc.) as part of reactivation process.
Can someone else reactivate the account on my behalf?
Possibly, but they will generally need a power of attorney or legal authorization, plus your identification. Policies vary by bank.
Are there risks if I leave the account dormant too long?
Yes: risk of losing easy access; possible transfer to unclaimed pool (which may make retrieval more involved); potential account fees; inability to access bank services tied to that account.
Does closing the account solve dormancy issues?
If you are sure you won’t use the account, closing it may be cleaner. But ensure no funds are left, settle any outstanding charges. Once closed, re‑opening might require starting afresh.
Can I still receive funds (salary, transfers) into a dormant account?
Usually no. Most banks block incoming or outgoing transactions until account is reactivated. Sometimes incoming transfers might bounce or be held.

H2: Examples & Scenarios

Here are some example stories to help you understand better.

H3: Example 1: Student “Aisha” in Lagos

Aisha opened a savings account in her first year at university. She stopped using it when she graduated and got a job, because she opened another bank account. After 10 years, she realized it was dormant.

She went to her bank branch with her old passbook, valid national ID, proof of address (recent utility bill), and filled the reactivation form.
Bank took 2 working days to verify. Reactivation done.
They informed her via SMS. Now she uses the account occasionally just so it doesn’t go dormant again.

H3: Example 2: Worker “Emeka” with Unclaimed Balance

Emeka had a current account he used years ago, never used for over 10 years, with some small balance. The bank had transferred the funds into CBN’s unclaimed balances trust fund.

Emeka contacted his bank, filled an affidavit, provided identity, old statements, proof of previous transactions.
Since funds had moved to CBN’s pool, the process took a bit longer: bank coordinated with CBN. Within 10 working days (per CBN rule) he got confirmation his funds were returned and deposited back into his bank account.

H2: Comparison: Reactivation vs Opening a New Account

Feature	Reactivating Dormant Account	Opening New Account
Use of old account number / history	You keep your old account number, transaction history (if preserved)	New account, new number, possibly new branch, no past history
Required documentation	Might need extra proof and KYC updates, affidavit, proof of ownership	Standard documentation required for opening new account
Time needed	Can be quicker if documents are readily available; maybe 2‑4 days or up to 3 working days per CBN	Usually faster for new account if you have all required documents
Cost / charges	Possible KYC fees, any outstanding fees; but reactivation itself should not be charged	May need minimum opening deposit, possible account setup charges
Convenience	Using account you already have; perhaps simpler to maintain	Might be easier if you lost old documents; but loses history

H2: What To Do After Reactivation

Update your bank’s records: address, phone, email, latest ID.
Use account regularly: perform small transactions, at least one per year.
Set alerts or reminders so you know when account is close to dormancy.
Link your bank account to your BVN (if not already), and ensure your identity verification is done.

H2: Important Reminders / Caveats

Always keep all your personal identification up‑to‑date. Expired IDs often slow things down.
Beware of bank fraud: only use bank’s official forms; fill them in branch or via official digital channel.
Keep records (copies of documents, forms) in case you need proof later.
If account is in another bank or branch from when you opened it, check whether that branch handles reactivation or if you must go back to the original branch.

Conclusion

Reactivating a dormant bank account in Nigeria is a manageable process when you know what to do. First, understand what “dormant” means under your bank and the CBN rules. Then gather your identity documents, proof of address, reactive form, and go through the bank’s reactivation process. Remember that CBN requires that reactivation happens within 3 working days where documents are in order. Use the account a little now and then to avoid dormancy again.