Key points
- SEC launches nationwide campaign to help investors and beneficiaries recover unclaimed dividends and inherited investments.
- Initiative targets challenges around probate, estate administration and documentation.
- SEC says poor awareness and inadequate estate planning are contributing to the accumulation of dormant assets.
- Commission seeks to strengthen investor protection and reconnect legitimate beneficiaries with financial assets.
Main Story
The Securities and Exchange Commission (SEC) has launched a nationwide awareness campaign to help investors and beneficiaries recover unclaimed dividends, dormant assets and investments inherited from deceased relatives.
The initiative, unveiled in Abuja through the Probate/Unclaimed Monies Awareness and Investor Clinic, is aimed at addressing challenges that prevent beneficiaries from accessing financial assets held in the capital market.
The campaign will educate investors, beneficiaries and estate executors on probate procedures, estate administration and the documentation required to claim shares, dividends and other investments left behind by deceased investors.
Speaking at the event, SEC Director-General, Dr Emomotimi Agama, said the Commission was addressing a long-standing challenge affecting families whose deceased relatives held investments in the capital market.
He said beneficiaries often encounter difficulties obtaining probate, letters of administration, death certificates and other documents required to establish their entitlement to inherited financial assets.
Agama noted that the complexity of estate administration frequently leaves legitimate investments inaccessible for extended periods, despite the existence of identifiable beneficiaries.
He described unclaimed dividends and dormant assets as a significant concern for the Nigerian capital market because funds belonging to individuals and families remain disconnected from their rightful owners.
The SEC DG said the Commission would continue to deploy policy reforms, investor education and stakeholder engagement to improve access to inherited investments and strengthen investor protection.
He added that the awareness campaign would help members of the public understand probate requirements, estate administration and the procedures for recovering unclaimed monies.
The Issues
A major challenge identified by stakeholders is the limited awareness among beneficiaries about investments held by deceased relatives.
Some beneficiaries may also be unaware that shares, dividends and other financial assets form part of a deceased person’s estate and can be transferred to legitimate heirs.
The absence of adequate estate planning can further complicate the process, while difficulties in obtaining the necessary legal and administrative documents may delay claims.
These challenges contribute to financial assets remaining dormant even when legitimate beneficiaries are available to claim them.
What’s Being Said
SEC Director-General, Dr Emomotimi Agama:
“Across our market, unclaimed dividends and dormant assets represent real money—money that belongs to real families, sitting idle, disconnected from the people it was meant to serve.”
Agama said the SEC was committed to bridging the gap through policy reforms, investor education and sustained engagement with investors, beneficiaries and other stakeholders.
Acting CEO, Meristem Registrars and Probate Services Ltd., Ms Nkechinyelu Okoye:
Okoye identified poor awareness and inadequate estate planning as major factors behind the accumulation of unclaimed financial assets.
She said some beneficiaries were unaware of their deceased relatives’ investments, while others lacked knowledge of the documentation and legal procedures required to establish their entitlement and complete claims.
What’s Next
The SEC is expected to intensify public awareness on probate and estate administration while engaging investors, beneficiaries, registrars and other stakeholders on the recovery process.
The campaign is also expected to provide members of the public with clearer information on the steps and documentation required to access inherited investments and unclaimed monies.
Bottom Line
The SEC’s nationwide campaign is designed to reconnect dormant capital-market assets with their rightful owners while addressing the documentation, awareness and estate-administration challenges that have kept many dividends and inherited investments unclaimed.
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