SEC begins nationwide campaign to recover ₦270bn unclaimed dividends for investors
The Securities and Exchange Commission (SEC) launched a nationwide enlightenment campaign on July 16 in Lagos to help Nigerian investors recover unclaimed dividends and funds from capital market transactions totaling approximately N270 billion. The initiative operates through the National Investor Protection Fund (NIPF) and educates the public on verifying and claiming legitimate funds, including inheritance-related securities transmission.
A key focus addresses inherited investments where families unknowingly lose decades of returns because they lack knowledge of probate procedures and legal steps to claim deceased relatives' shares. The Lagos town hall featured dedicated expert sessions on probate administration to simplify this process. Under previous law, unclaimed dividends became statute-barred after 12 years, extinguishing claims. The Finance Act 2020 and ISA 2025 now transfer unclaimed dividends to the Unclaimed Funds Trust Fund (UFTF) after six years—crucially, shareholders retain permanent ownership rights rather than losing them permanently.
SEC Director-General Emomotomi Agama emphasized that investor funds should return to rightful owners, not remain dormant. The campaign expands to all six geopolitical zones and FCT via electronic media, social platforms, and registrar partnerships. The Commission warned against Ponzi schemes exploiting economic pressures with promises of unusually high, risk-free returns.
Do you have unclaimed dividends from inherited shares or long-forgotten investments? Check family records and learn the recovery process before visiting your registrar—the window for action is wider than ever under the new custodial system.