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FG Allays Fears on Unclaimed dividend, Dormant account pulled to fund Budget

...Says Owners can Access their funds Unhindered.

Amidst controversies arising from some provisions in the Finance Act, the Federal Government has said Owners of dormant accounts and unclaimed dividends have unhindered access to their investments returns and funds upon rightful claims to their entitlements. The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, who made the clarification while fielding questions during the virtual presentation of the 2021 budget breakdown, today, said N850billion is expected to be pooled into a Special Trust Fund as part domestic measures to fund the Budget deficit. 

 

Speaking on the implementation of the 2020 budget, Mrs. Ahmed disclosed that N1.8 trillion has been spent on capital projects adding that the implementation of the 2020 capital budget would run concurrently with that of 2021 budget until March 31, 2021 as assented to by President Muhammadu Buhari. The Director General, Debt Management Office (DMO), Ms. Patience Oniha, speaking on the 2021 Borrowing Plan, said Federal Government would borrow 50 per cent of the N4.68trillion from the domestic market and the other half from international sources to finance the budget.

 

Our Correspondent, Raliat Adenekan reports that Mrs Ahmed said the Executive may likely approach the National Assembly through additional budgetary provisions to request for approval to fund the procurement of the Covid-19 Vaccine as the Executive is working on total cost to purchase the vaccine. 

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