**CBN Eases Access to Trapped Funds, Waives Affidavit Requirement for Dormant Account Reactivation** In a move aimed at boosting financial inclusion and reducing compliance costs for Nigerians, the Central Bank of Nigeria (CBN) has scrapped the affidavit requirement for reactivating dormant bank accounts. This decision is set to unlock billions of naira trapped in inactive accounts, thereby giving millions of Nigerians access to their long-stagnant funds. The CBN's circular, which made this announcement, is a significant step towards simplifying the process of reactivating dormant accounts. For a while, Nigerians who wished to reactivate their dormant accounts had to obtain an affidavit, a document that can be costly and time-consuming to get. This requirement often discouraged people from taking the necessary steps to access their funds. The waiver of the affidavit requirement is expected to have a positive impact on the economy, particularly in a period of economic reforms. By easing access to trapped funds, the CBN aims to stimulate economic growth and improve financial inclusion. Many Nigerians who have dormant accounts may not be aware of the funds trapped in these accounts or the process of reactivating them. This move will likely encourage them to take action and access their funds. The CBN's decision also aligns with the government's efforts to promote financial inclusion. In recent years, there has been a push to increase access to financial services for all Nigerians, particularly in rural areas. By making it easier to reactivate dormant accounts, the CBN is contributing to this goal. The CBN's circular also highlights the importance of reducing compliance costs for customers. Obtaining an affidavit can be a costly and time-consuming process, which may deter some people from reactivating their dormant accounts. By waiving this requirement, the CBN is making it easier for Nigerians to access their funds without incurring unnecessary costs. In conclusion, the CBN's decision to waive the affidavit requirement for dormant account reactivation is a welcome development that will likely benefit millions of Nigerians. By making it easier to access trapped funds, the CBN is contributing to the government's efforts to promote financial inclusion and stimulate economic growth.