Nigeria's Federal Government has accessed N100 billion from the Unclaimed Funds Trust Fund (UFTF) to finance its domestic debt obligations. The funds were recorded under the "UFTF FGN Security" instrument in the Debt Management Office (DMO)'s latest domestic debt stock report. As of the report's release, Nigeria's total domestic debt stood at N80.49 trillion. The DMO confirmed the transaction, noting the UFTF contribution as a distinct component of the federal government's borrowing activities. Unclaimed funds typically consist of dormant financial assets transferred from banks and other institutions after a statutory period. The government's decision to tap into this fund marks a shift in how unutilised financial resources are being leveraged for fiscal purposes. The DMO did not disclose the terms of the borrowing or the intended repayment structure. No additional details were provided on the source of the unclaimed funds or the original owners affected.
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