The Securities and Exchange Commission (SEC) has launched a nationwide public awareness campaign to help Nigerians recover unclaimed dividends and other outstanding funds arising from capital market transactions.
The initiative officially commenced with a town hall meeting in Lagos, where the Commission began sensitising investors on the existence of unclaimed funds, the responsibilities of the National Investor Protection Fund (NIPF) and the procedures for verifying and reclaiming legitimate entitlements.
Speaking through the Director of Registration and Exchanges, Market Infrastructure Department, Hafsat Rufai, the Director-General of the SEC, Dr. Emomotimi Agama, said the campaign was designed to ensure that investors and their beneficiaries receive funds that rightfully belong to them.
According to him, the unclaimed dividends initiative covers a broad range of investor funds administered by the NIPF, including refunds from public offers, payments arising from mergers, acquisitions and corporate restructuring, as well as other outstanding monies linked to capital market activities.
Agama noted that many investors and their families remain unaware that such funds exist or are unfamiliar with the procedures required to recover them. He described the situation as unacceptable, stressing that money belonging to investors should ultimately be returned to its rightful owners.
“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 enlightenment programme aimed at educating Nigerians on the recovery process and increasing awareness of the role played by the National Investor Protection Fund.
The Lagos town hall meeting marks the first phase of the nationwide exercise, which the Commission said will subsequently extend to all six geopolitical zones and the Federal Capital Territory (FCT). Through the campaign, the SEC hopes to improve investor awareness, reduce the volume of unclaimed dividends, and strengthen confidence in Nigeria’s capital market by ensuring that legitimate beneficiaries can successfully reclaim outstanding funds.
