AI agents for business finance: what they can and can't do
What AI agents can do in bookkeeping, close, collections and compliance today, where a person must stay in charge, and how to judge a product.
The short answer
Balances in accounts inactive for ten years or more are moved to the CBN's Unclaimed Balances Trust Fund (UBTF) under guidelines issued on 19 July 2024. To get the money back, you complete an Asset Reclaim Form at the bank that held the account, with ID, proof of ownership, proof of address and an affidavit. FirstBank says it forwards claims to the CBN within 10 working days and the CBN refunds through the bank within another 10 working days.
How money ends up with the CBN
Under the CBN's guidelines on dormant accounts and unclaimed balances, issued on 19 July 2024 according to GTBank's summary, balances in accounts that have been inactive for ten years or more are eligible for transfer to the CBN's Unclaimed Balances Trust Fund (UBTF). FirstBank's dormant account page uses the same ten-year test. The money is not forfeited; it is held so the owner, or the owner's estate, can reclaim it.
This is separate from an account simply going dormant at your bank, which happens far sooner and can be undone by reactivating it. If your account is merely dormant, start with reactivating a dormant account. The full set of rules is in dormant accounts and unclaimed balances.
Step 1: check whether your money was transferred
- Banks publish lists of transferred accounts on their websites, GTBank and FirstBank say, and the CBN also publishes them; lists may appear in newspapers.
- Search by account name. If you are not sure which bank, think back to employers, schools and old addresses.
- If you cannot find it but believe you had an account, ask the bank directly; give your old account number if you have it, or your name, date of birth and BVN.
Step 2: gather the documents
Banks' own pages list broadly the same documents. Access Bank's reclaim process document is the most detailed we read:
| Document | Notes from banks' pages |
|---|---|
| Asset Reclaim Form | Collected and submitted at a branch of the bank that held the account (GTBank, FirstBank, Access) |
| Valid ID | Access lists NIN card, international passport, driver's licence or voter's card |
| Proof of ownership | Old statements, a reference letter, email alerts, a passbook or cheque book |
| BVN (or TIN for companies) | Access lists BVN/TIN |
| Proof of current address | Access asks for a utility bill no older than three months |
| Affidavit | GTBank and FirstBank list an affidavit; Access's form mentions one where originals are missing and for amounts above ₦10,000 |
| Passport photograph | Access |
| Indemnity | Access: signed with the bank's chief compliance officer |
Step 3: the timeline
- You submit the Asset Reclaim Form and documents at the bank.
- The bank verifies the claim and sends it to the CBN. FirstBank says within 10 working days; Access says it forwards to the UBTF for CBN approval, typically within 10 working days.
- The CBN refunds through the bank. FirstBank says within 10 working days, with interest at a rate the CBN determines.
- If the bank has not resolved it within 15 working days, GTBank's page says you can escalate to the CBN's Consumer Protection Department.
Worked example
Example only. Ngozi finds her name on a bank's list for an account she opened at university. She submits the form on Monday 2 November. If the bank uses its full 10 working days and the CBN its full 10 working days, she would expect the money about four calendar weeks later, around the end of November, allowing for weekends. A public holiday in the period would push it back.
If the claim is refused or delayed
Most delays come from evidence. A claim with no old statement, passbook or alert is harder to verify, and banks may ask for more, such as a reference letter from someone who knew of the account, or a sworn affidavit explaining the missing papers. Name changes after marriage need the marriage certificate or a deed poll. Company claims need the company's registration documents and a board resolution naming who may receive the money.
Ask the bank for a written reason if it rejects the claim. Then supply what is missing or, if you believe the decision is wrong, escalate to the CBN Consumer Protection Department with copies of everything you submitted. See how to complain to the CBN.
Claiming for someone who has died
If the account holder has died, the claim is made for the estate. The bank will ask for the death certificate and the grant of probate or letters of administration, alongside the reclaim form. See claiming a deceased person's account. Next of kin details on the account do not by themselves entitle anyone to the money.
Avoiding scams
- Claims are made at the bank. You do not pay an agent or a "CBN officer" to release unclaimed money.
- Banks' pages we read list no reclaim fee. If anyone asks for a processing fee, ask the bank in writing whether it is genuine.
- Never share your PIN or passwords; the CBN's complaints guidance says not to include them even in a complaint.
Where Pryme fits
Active accounts do not go dormant. Pryme's Personal Assistant can remind you about accounts and bills you have set up, and nothing moves without your approval. Statements you may need later as proof can be generated as verifiable documents through VerifyDoc.ai; see receipts and statements.
Questions people ask
How do I claim my money from the CBN unclaimed balances?
Go to the bank that held the account, complete the Asset Reclaim Form and provide ID, proof of ownership, proof of address and an affidavit. The bank forwards the claim to the CBN and pays you once approved.
How long before a dormant account is transferred to the CBN?
Under the 2024 CBN guidelines as summarised by GTBank and FirstBank, accounts inactive for ten years or more are eligible for transfer to the UBTF.
How long does it take to get unclaimed money back?
FirstBank says it sends verified claims to the CBN within 10 working days and the CBN refunds through the bank within 10 working days, so about four weeks.
Do I pay a fee to reclaim unclaimed balances?
The bank pages we read list no fee. Be wary of anyone asking for a payment to release funds.
Sources
- GTBank: Guidelines for managing dormant accounts, unclaimed balances and other financial assets · accessed Oct 2026
- FirstBank: Dormant Account · accessed Oct 2026
- Access Bank: UBTF reclaim process document · accessed Oct 2026
- CBN Consumer Protection Department: Complaints Management · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.