The Securities and Exchange Commission has launched a nationwide public-education campaign aimed at recovering millions of naira in unclaimed dividends and other investor funds held after corporate actions,
The initiative, which kicked off with a town-hall meeting in Lagos, seeks to raise awareness about dormant investor balances and to walk savers through the procedures required to verify and reclaim legitimate claims, the commission said.
The outreach will be extended to the six geopolitical zones and the Federal Capital Territory, and will use social and electronic media to widen reach.
“The Commission considers this situation unacceptable. Funds belonging to investors should ultimately find their way back to their rightful owners,” Director-General Emomotimi Agama said in remarks read on his behalf by Hafsat Rufai, director of registration and exchanges in the SEC’s market infrastructure department.
Agama said the National Investor Protection Fund, or NIPF, is the principal vehicle for administering refunds and other payouts arising from public offers, mergers, acquisitions and corporate restructuring.
The SEC plans to publish and regularly update lists of companies whose corporate actions have produced unclaimed funds, with guidance on how to file claims.
Regulators described two persistent obstacles to returning the money: lack of awareness among investors and complex legal procedures needed to transmit securities after an investor’s death.
Agama said many families do not know that relatives held shares, or how to obtain probate or letters of administration to transfer assets—a gap that can keep investments locked away for years.
To address the legal hurdle, the Lagos forum included sessions on probate administration and the transmission of securities, designed to give practical steps for beneficiaries seeking access to inherited holdings.
Agama urged investors to keep thorough records and encouraged families to take proactive steps to preserve and recover inherited wealth.
The SEC also used the launch to warn Nigerians about ponzi schemes and other fraudulent investment offerings that exploit economic strain and online platforms.
“Investor education and vigilance remain essential in combating financial fraud,” Agama said.
Representing the Lagos State Arttorney-General, Olujoke Ogunojemite, Deputy Director in the State Ministry of Justice, praised the SEC’s campaign and pledged cooperation from legal institutions.
She said the Ministry would work to ensure that legal processes do not become obstacles for legitimate beneficiaries seeking to recover assets.
The campaign comes as regulators across Africa increase scrutiny of investor protections and asset transparency to shore up confidence in local capital markets.
For market participants, improved tracking and reclamation of unclaimed funds could return liquidity to investors and strengthen trust in Nigeria’s financial infrastructure.
