The Securities and Exchange Commission (SEC) has launched a nationwide awareness campaign aimed at helping investors recover unclaimed dividends, as part of efforts to strengthen confidence in Nigeria’s capital market and improve investor participation.
The initiative, unveiled by the commission, seeks to educate shareholders on the procedures for claiming outstanding dividends while encouraging them to update their records through the electronic dividend (e-dividend) registration platform. SEC said the campaign will be conducted across the country in collaboration with registrars, stockbrokers, listed companies, and other stakeholders in the capital market.
According to the commission, a significant amount of dividends remains unclaimed due to factors such as incomplete shareholder records, changes in residential addresses, inactive bank accounts, and the failure of beneficiaries to regularize ownership documents after the death of shareholders.
SEC explained that the awareness campaign is designed to simplify the claims process and improve financial literacy among investors. The regulator urged shareholders to verify their records with company registrars and complete the necessary documentation to facilitate the direct payment of dividends into their bank accounts.
The commission reiterated that the adoption of the e-dividend system has significantly reduced the accumulation of unclaimed dividends and remains one of the most effective measures for ensuring prompt payment to shareholders.
Capital market analysts welcomed the initiative, noting that recovering unclaimed dividends would not only benefit investors but also enhance confidence in Nigeria’s financial markets. They added that improved investor awareness and wider adoption of digital payment systems could further strengthen market efficiency and encourage greater participation by retail investors.
The campaign comes as regulators continue implementing reforms aimed at modernizing Nigeria’s capital market and improving investor protection. Industry stakeholders believe increased public education and easier access to dividend recovery services will help reduce the volume of outstanding claims while promoting transparency and trust in the investment ecosystem.
