Nigeria SEC launches campaign to recover unclaimed dividends

The Securities and Exchange Commission (SEC) has launched a nationwide campaign in Nigeria to assist investors and beneficiaries in recovering unclaimed dividends and inherited investments. Unveiled in Abuja through the Probate/Unclaimed Monies Awareness and Investor Clinic, the initiative aims to educate estate executors, beneficiaries, and investors on probate procedures and estate administration.

SEC Director-General Dr. Emomotimi Agama stated that the commission is addressing a long-standing issue where families struggle to access assets due to difficulties obtaining necessary documentation, such as death certificates, letters of administration, and probate. Agama noted that unclaimed dividends and dormant assets represent significant funds that should benefit families rather than remaining idle in the capital market.

To resolve these challenges, the SEC intends to implement policy reforms and maintain engagement with stakeholders. Industry representatives noted that poor awareness and weak estate planning further contribute to the volume of dormant assets, as many beneficiaries are unaware that deceased relatives held specific financial investments.