Chika Mbonu: FG Borrowing from Unclaimed Funds Raises Trust Concerns

Chika Mbonu warns FG’s use of unclaimed funds could erode public trust in financial institutions.

Business analyst, Chika Mbonu, has raised concerns over the Federal Government’s decision to borrow ₦100 billion from dormant bank accounts and unclaimed dividends, warning that the move could undermine public confidence in the financial system.

Speaking in an interview with ARISE News on Monday, Mbonu said the policy, though structured, may be misunderstood by Nigerians and deepen existing skepticism about how public institutions manage private funds.

According to him, “It’s like money left in an old pocket that the government takes, keeps in your name, and returns when you claim it.”

He noted that while the funds are not permanently taken, the perception surrounding government access to privately owned money remains a sensitive issue.

“People are wondering if government is now borrowing ‘forgotten’ money. It suggests things are tight.”

Mbonu explained that such perceptions could create anxiety among citizens, particularly those who are unaware of how dormant accounts and unclaimed dividends are handled.

“It’s not just about legality; it’s about trust.”

He stressed that confidence in the financial system depends on transparency, clear communication, and reassurance that individuals can easily recover their funds when needed.

“People need to be assured that their money is safe and accessible at any time.”

Mbonu added that without proper public sensitization and accountability, policies involving private funds risk being misinterpreted, regardless of their legal backing.

He concluded that maintaining trust should remain a priority, especially in a period where economic pressures have already heightened public concern over government financial decisions.