Tuesday 21 April, 2026

Nigeria's domestic debt just crossed ₦80 trillion. Buried in that number is ₦100 billion the government borrowed from you. From bank accounts and dividends you haven't claimed yet.

The Debt Management Office confirmed it in its latest domestic debt stock report. An instrument called "UFTF FGN Security" worth ₦100 billion, sourced from the Unclaimed Funds Trust Fund. The UFTF collects dormant bank account balances and unclaimed dividends from listed companies that have sat inactive for at least six years. The Finance Act 2020 allows the government to invest those funds in government securities and count them as public debt.

Your money. Listed as theirs.

The law is clear that the original owners can still claim their funds, along with any returns. But you first have to know your money is in there. Then you have to navigate the process of claiming it. Then the government has to pay it back.

The ₦100 billion is 0.12% of total domestic debt. Small in percentage terms. Not small in what it reveals.

Nigeria's total domestic debt now stands at ₦80.49 trillion. FGN Bonds account for ₦63.63 trillion of that. Treasury Bills another ₦13.85 trillion. The government has been borrowing at scale to cover a budget deficit it cannot close with revenue alone. Oil prices came in at $66 per barrel in 2025 against a budget assumption of $75. Production averaged 1.66 million barrels per day against a target of 2.06 million. The gap is being funded by bonds, treasury bills, and, now, your unclaimed dividends.

The government signed the 2026 budget into law last week at ₦68.32 trillion. Of that, ₦15.8 trillion goes to debt service. That's not paying down debt. That's just servicing the interest on it.

Every Nigerian who owns shares in a listed company and hasn't collected their dividends in six years should check whether their money is in the UFTF. The Securities and Exchange Commission handles claims. It's worth checking. The government has put your savings to work. Whether it's put them to work for you is a different question.