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

The initiative was announced in a statement issued by the Commission following a town hall meeting held in Lagos on Thursday, July 16.

According to the SEC, the initiative is being implemented through the National Investor Protection Fund to educate investors on the existence of unclaimed funds, the process for verifying and recovering legitimate claims, and the legal procedures for transferring securities after the death of an investor.

The Commission estimates that unclaimed dividends in Nigeria stand at about N270 billion.

It has continued to promote electronic dividend registration and recently reaffirmed that shareholders can still claim eligible unpaid dividends that have remained outstanding for more than 12 years, pending the full operationalisation of the Unclaimed Funds Trust Fund.

SEC Director-General Emomotimi Agama, represented at the event by the Director of Registration and Exchanges in the Commission’s Market Infrastructure Department, Hafsat Rufai, said it was unacceptable that investors’ funds continued to remain unclaimed within the capital market system.

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

“Unclaimed monies administered by the NIPF included return monies from public offers, scheme consideration from mergers, acquisitions and corporate restructuring transactions, as well as other funds belonging to investors that had remained unclaimed.”

He said the campaign would focus on all categories of dormant investor funds, adding that the Lagos town hall marked the first phase of the nationwide initiative, which will subsequently be extended to the six geopolitical zones and the Federal Capital Territory.

The SEC said it would complement the campaign with extensive outreach across electronic and social media platforms, its official website, and other communication channels to reach a wider audience. The Commission also said it would continue to publish and regularly update the list of companies whose corporate actions have resulted in unclaimed funds.

Beyond encouraging investors to claim outstanding funds, the campaign also seeks to address a more complex issue—the transfer of investments following the death of an investor.

The SEC noted that many Nigerian families are unaware that deceased relatives owned shares or other capital market investments.

Even where such investments are known, beneficiaries often lack an understanding of the legal and administrative procedures required to transfer them, including obtaining probate or letters of administration to facilitate the transmission of the assets to their rightful owners.

“As a result, valuable investments and return on investments sometimes remain inaccessible for many years, thereby denying beneficiaries the financial benefits intended for them,” Agama said.

The Lagos town hall featured a dedicated session on probate administration and the transmission of securities, providing guidance on the legal process for transferring investments to beneficiaries following the death of an investor.

The Commission also urged investors to keep proper records of their investments and encouraged families to take proactive steps to preserve and transfer inherited wealth.