The Securities and Exchange Commission (SEC) has launched a nationwide awareness campaign to help Nigerians recover unclaimed dividends and investments inherited from deceased relatives. The initiative, unveiled in Abuja through the Probate/Unclaimed Monies Awareness and Investor Clinic, is aimed at educating investors, beneficiaries and estate executors on how to navigate probate procedures and reclaim financial assets that have remained dormant.
Speaking at the event, SEC Director-General, Dr Emomotimi Agama, said the Commission was tackling a long-standing problem that has left many families unable to access legitimate investments belonging to their deceased relatives. He noted that beneficiaries often struggle with obtaining essential documents, including probate, letters of administration and death certificates, making the process of claiming shares, dividends and other financial assets more difficult than it should be.
Agama described unclaimed dividends and dormant assets as more than just figures on financial statements, stressing that the money belongs to real families and could make a meaningful difference in their lives. He said the SEC was working to close the gap through policy reforms, investor education and continuous engagement with beneficiaries and other stakeholders, while encouraging Nigerians to properly document, preserve and plan for the transfer of their investments.
Also speaking, the Acting Chief Executive Officer of Meristem Registrars and Probate Services Limited, Nkechinyelu Okoye, identified poor awareness and inadequate estate planning as major reasons financial assets remain unclaimed. According to her, some beneficiaries do not know that shares and dividends are part of a deceased person’s estate, while others may not even be aware that their relatives had investments in the capital market. The lack of knowledge about the required legal documents and procedures can further delay the recovery of these assets.
The SEC said the campaign is expected to make it easier for Nigerians to understand probate and estate administration while helping more families identify and recover investments that rightfully belong to them. Beyond recovering dormant funds, the initiative is also designed to strengthen investor protection and reduce the growing volume of unclaimed dividends and other assets sitting within Nigeria’s capital market. For families who may have assumed that a relative left behind little or nothing, the campaign could help uncover financial assets that have been waiting to be claimed.
source: The guardian
