The Securities and Exchange Commission (SEC) has begun a nationwide public awareness campaign aimed at helping Nigerians recover unclaimed dividends and other outstanding funds linked to capital market transactions. The initiative was officially launched during a town hall meeting held in Lagos, where the Commission outlined plans to educate investors on how to verify and reclaim funds that have remained uncollected over the years.
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 campaign seeks to ensure that investors receive funds legally belonging to them. According to him, the outreach programme is designed to increase public understanding of the National Investor Protection Fund (NIPF), explain the different categories of unclaimed funds and provide guidance on the procedures for filing legitimate claims.
The Commission explained that the monies managed under the NIPF include several categories of outstanding investor funds. These include refunds from public offers, payments arising from mergers, acquisitions and corporate restructuring exercises, as well as other legitimate capital market proceeds that have remained unclaimed. Agama noted that many investors and their beneficiaries are either unaware that such funds exist or do not understand the process required to recover them.
“The Commission considers this situation unacceptable. Funds belonging to investors should ultimately find their way back to their rightful owners,” he said.
To address the challenge, the SEC Board approved a nationwide sensitisation campaign focused on unclaimed dividends and other investor funds. The Lagos town hall meeting serves as the first phase of the programme, with similar engagements scheduled across Nigeria’s six geopolitical zones and the Federal Capital Territory.
The Commission said the broader objective is to improve investor confidence in the capital market while ensuring that rightful owners can successfully reclaim outstanding funds through the established verification process. SEC encouraged investors, shareholders and family members of deceased investors to take advantage of the awareness campaign to verify potential entitlements and obtain accurate information on the claims process.
