The Securities and Exchange Commission (SEC) has launched a nationwide campaign to recover over N270 billion in unclaimed dividends, a move aimed at reuniting investors with their rightful funds and boosting confidence in the Nigerian capital market.
What Happened
According to the SEC, the unclaimed dividends have accumulated over the years due to investors failing to update their contact details or claim their payments. The campaign, which began in July 2026, will involve a comprehensive outreach to shareholders, companies, and registrars to trace and return the funds.
Details of the Campaign
The SEC Director-General, Dr. Emomotimi Agama, announced the initiative during a press briefing in Abuja. He stated that the commission has identified over 2 million shareholders with unclaimed dividends, totaling N270 billion as of June 2026. The campaign will leverage technology, including a dedicated online portal and mobile app, to enable investors to check their status and claim dividends easily.
“We are committed to ensuring that every legitimate shareholder receives what is due to them. This campaign is not just about recovering funds but also about restoring trust in our market,” Agama said.
Impact on Investors and Market
The recovery of unclaimed dividends is expected to inject liquidity into the economy and encourage more participation in the capital market. The SEC has set a target of recovering at least 60% of the unclaimed dividends within the first year of the campaign. Companies with unclaimed dividends will be required to publish names of beneficiaries and cooperate with the SEC.
Industry analysts have welcomed the move, noting that it could boost investor confidence. “This is a positive step towards addressing a long-standing issue. It will help clean up the market and ensure that investors are protected,” said Mr. Oluwole Adeyemo, a capital market expert.
How to Claim
Shareholders are advised to visit the SEC’s official website or download the SEC Investor App to verify their dividend status. They will need to provide their shareholder identification number (SIN) and bank account details. The SEC has also set up help desks in all state capitals to assist investors, especially those in rural areas.
The commission has warned against fraudsters who may try to exploit the campaign. “All claims are free and processed directly through the SEC. Do not pay anyone to claim your dividends,” Agama cautioned.
