SEC launches campaign to recover unclaimed dividends, inherited assets

By Obas Esiedesa

The Securities and Exchange Commission (SEC) has launched a nationwide campaign to help investors and beneficiaries recover unclaimed dividends and inherited investments, as part of efforts to strengthen investor protection and reduce dormant assets in Nigeria’s capital market.

The initiative which was unveiled in Abuja through the Probate/Unclaimed Monies Awareness and Investor Clinic, seeks to educate investors, beneficiaries and estate executors on probate procedures, estate administration and the process for accessing inherited financial assets.

Speaking at the event, SEC Director-General, Dr. Emomotimi Agama, said the Commission was addressing a long-standing challenge that has prevented many families from accessing investments left behind by deceased relatives.

He noted that many beneficiaries encounter difficulties obtaining probate, letters of administration, death certificates and other documents required to claim shares, dividends and other financial assets.

“For many Nigerian families, the death of a loved one who held shares, dividends or other investments marks the beginning of a long and often confusing journey,” Agama said. 

He described unclaimed dividends and dormant assets as a major concern for the capital market, stressing that they represent funds that should be benefiting Nigerian families rather than remaining idle.

“Across our market, unclaimed dividends and dormant assets represent real money—money that belongs to real families, sitting idle, disconnected from the people it was meant to serve,” he said. According to him, the Commission is committed to bridging the gap through policy reforms and sustained engagement with investors and beneficiaries.

Also speaking, Acting Chief Executive Officer of Meristem Registrars and Probate Services Limited, Ms. Nkechinyelu Okoye, said poor awareness and inadequate estate planning remain key drivers of unclaimed financial assets.

She identified beneficiaries who are unaware that financial assets form part of an estate, those who do not know their deceased relatives owned investments, and those unfamiliar with the documentation required to claim such assets.