The Socio-Economic Rights and Accountability Project has sent an open letter to President BUHARI urging him to "to promptly drop the plan by the Federal Government to borrow about N895bn of unclaimed dividends and funds in dormant accounts.

It says government plans to use the unconstitutional and illegal Finance Act, 2020, to achieve goal.

The Finance Act, signed into law by BUHARI last December, would allow the government to borrow unclaimed dividends and dormant account balances owned by Nigerians in any bank in the country.

But SERAP in a letter signed by its deputy director KOLAWOLE OLUWADARE said borrowing unclaimed dividends and funds in dormant accounts amount to an illegal expropriation, and would hurt poor and vulnerable Nigerians.