Okafor Pledges Prudent, Productive Use Of Unclaimed Funds

By TOSAN OYAKHILOME-AKAHOMEN

PRESIDENTIAL nominee for Co-Chair of the Unclaimed Funds Trust Fund, Mrs. Obehi Okafor, has assured the Senate that unclaimed dividends and dormant bank balances placed under the fund will be safely managed and productively invested if her appointment is confirmed.

Speaking before the Senate Committees on Finance and on Banking, Insurance and Other Financial Institutions, Okafor said the fund would prioritise capital preservation, responsible risk management, and optimised returns to support government financing needs.

She explained that the trust fund will manage unclaimed dividends from publicly listed companies and dormant bank accounts inactive for at least six years, stressing that the funds must not lie idle but be invested to expand the nation’s fiscal space while remaining accessible to rightful owners.

Committee chairmen Senator Sani Musa and Senator Tokunbo Abiru asked her to justify her nomination and outline her vision for the fund. The joint committee will present its report to the Senate next week for confirmation.