Estate Administration and Bank Compliance in Nigeria: Lessons from Common Law and Hybrid Jurisdictions

Abstract

Introduction: The administration of deceased persons’ estates lies at a critical intersection between succession law and banking regulation, particularly where financial institutions retain custody of estate assets pending letters of administration or probate grant. In Nigeria, persistent delays in probate processes, fragmented institutional oversight, limited digitisation, and weak coordination between probate registries and banks have generated significant compliance risks, restricted timely access to estate funds, and heightened exposure to fraud and intra-family disputes, leading to considerable financial hardship for beneficiaries and increased litigation.

Purposes of the Research: This article aims to analyze the legal and institutional frameworks governing estate administration and bank compliance in Nigeria. It also undertakes a comparative analysis with selected common law and hybrid jurisdictions (England and Wales, Australia, and Singapore) to identify lessons for improving efficiency, legal certainty, and institutional coordination within Nigeria’s system.

Methods of the Research: The study employs a doctrinal and comparative legal analysis of estate administration and bank compliance frameworks. The focus is on regulatory oversight, digital probate systems, and institutional coordination mechanisms governing banks’ post-death obligations.

Results Main Findings of the Research: Jurisdictions with centralised or interoperable probate systems, clear statutory articulation of banks’ duties upon a customer’s death, and robust digital verification infrastructure demonstrate greater procedural efficiency, legal certainty, and compliance integrity than Nigeria’s predominantly decentralised and manual framework. Key lessons for Nigeria include the importance of a centralised and digitalised framework. There is a discontinuity between estate administration regulations and banking compliance in Nigeria, leading to fragmentation, procedural inefficiencies, and verification barriers. Reforms, particularly improved inter-institutional coordination, secure digital probate verification platforms, and clearer regulatory guidance on bank obligations, are feasible and necessary. Comparative insights suggest that a hybrid model blending statutory authority with practical exceptions, procedural and technological reforms, and recognition of alternative estate transfer mechanisms can significantly reduce delays and improve access to bank funds for heirs, provided reforms are tailored to Nigeria’s specific context.