SEC Launches Nationwide Drive to Help Investors Recover Unclaimed Dividends

The Securities and Exchange Commission (SEC) has launched a nationwide investor enlightenment campaign aimed at helping Nigerians recover unclaimed dividends and other outstanding funds arising from capital market transactions.

The campaign, which commenced with a town hall meeting in Lagos, forms part of the Commission's broader effort to reduce the volume of unclaimed investor funds by increasing public awareness of the recovery process and the role of the National Investor Protection Fund (NIPF).

Speaking at the event, SEC Director-General, Dr. Emomotimi Agama, represented by the Director of Registration and Exchanges, Market Infrastructure Department, Hafsat Rufai, said the initiative reflects the Commission's commitment to protecting investors and ensuring that legitimate funds are returned to their rightful owners.

According to Agama, the campaign is designed to educate investors and their beneficiaries on the existence of unclaimed monies, explain the responsibilities of the National Investor Protection Fund and provide clear guidance on the procedures for verifying and recovering eligible funds.

He explained that the unclaimed monies administered by the NIPF include refunds from public offers, consideration arising from mergers, acquisitions and other corporate restructuring transactions, as well as other investor funds that have remained unclaimed over time.

The SEC boss expressed concern that many investors and their families remain unaware that such funds exist or lack adequate information on how to reclaim them.

"The Commission considers this situation unacceptable. Funds belonging to investors should ultimately find their way back to their rightful owners," he said.

Agama disclosed that the SEC Board approved the nationwide public awareness campaign as part of efforts to strengthen investor protection and improve confidence in Nigeria's capital market.

He said the Lagos town hall marks the first phase of the outreach programme, which will subsequently be extended to all six geopolitical zones and the Federal Capital Territory to ensure wider public participation.

The Commission believes that sustained public education will encourage more investors to verify their records, update their investment information where necessary and begin the process of recovering outstanding dividends and other eligible capital market proceeds.

The initiative also aligns with the SEC's broader mandate of promoting investor confidence, strengthening market integrity and ensuring that the benefits of capital market investments are fully realised by their rightful owners.

As the campaign expands nationwide, the Commission urged investors, shareholders and beneficiaries to take advantage of the awareness programme and familiarise themselves with the official procedures for recovering unclaimed investment funds.