SEC launches nationwide campaign to recover N270 billion unclaimed dividends

The Securities and Exchange Commission (SEC) has launched a nationwide enlightenment campaign to help Nigerian investors reclaim approximately N270 billion in unclaimed dividends and other dormant capital market assets.

Announced during a town hall meeting in Lagos, the initiative is driven by the National Investor Protection Fund (NIPF). It aims to educate the investing public on verifying legitimate claims, recovering funds, and navigating the legal processes required to transfer securities after an investor's passing.

The campaign targets various dormant assets, including return monies from public offers and scheme considerations from mergers, acquisitions, and corporate restructurings.

SEC Director-General Emomotimi Agama, represented by Hafsat Rufai, emphasized that the commission finds it unacceptable for investor funds to remain trapped in the system, asserting that these monies must return to their rightful owners.

To accelerate recovery, the SEC is actively promoting electronic dividend registration. The commission also reassured shareholders that they remain entitled to claim eligible unpaid dividends older than 12 years, pending the full operationalization of the Unclaimed Funds Trust Fund (UFTF).

The Lagos event marks the official kickoff of the campaign, which will subsequently expand across all six geopolitical zones and the Federal Capital Territory (FCT) to ensure comprehensive nationwide outreach.