The Securities and Exchange Commission has intensified its campaign to reduce unclaimed dividends and dormant investment assets within the Nigerian capital market. The commission launched a Probate/Unclaimed Monies Awareness and Investor Clinic to help beneficiaries recover inherited investments and strengthen investor protection.
The programme is organised in partnership with Meristem Registrars and Probate Services Limited. It brings together key stakeholders, including the Federal Ministry of Justice, the Probate Registry, the National Population Commission, and capital market registrars, to provide practical guidance on probate procedures and documentation requirements.
Bridging the Gap for Beneficiaries
Speaking at the opening of the investor clinic in Abuja, SEC Director-General Dr. Emomotimi Agama said the initiative was designed to bridge the gap between the legal entitlements of investors and their ability to access inherited shares, dividends, and other financial assets after the death of loved ones.
Dr. Agama described unclaimed funds and dormant investment assets as a persistent challenge within Nigeria’s capital market. He noted that many families remain unable to access inherited investments because they are unfamiliar with probate processes and registrar requirements.
He emphasized that the clinic is structured as a practical, working session rather than a routine awareness campaign. The SEC boss stated that the commission exists to protect rights in the capital market, and that protection extends to ensuring beneficiaries can access what is due to them without unnecessary hardship.
Four Categories of Unclaimed Asset Challenges
The Acting Chief Executive Officer of Meristem Registrars and Probate Services Limited, Ms. Nkechinyelu Okoye, stated that the goal of the partnership is to equip investors and executors with the knowledge needed to navigate estate administration with confidence.
Ms. Okoye attributed the growing volume of unclaimed financial assets to inadequate awareness, poor estate planning, and incomplete Know Your Customer records. She outlined four distinct categories of beneficiaries and investors facing these challenges.
The first category includes those who assume only physical assets like land and buildings form part of an estate, overlooking financial investments. The second consists of individuals unaware that deceased relatives owned financial assets, while the third comprises those who know the investments exist but lack knowledge of the claims process.
The fourth category involves investors who fail to update their KYC records during their lifetime, making it difficult for beneficiaries to trace and claim their investments after death. Ms. Okoye urged investors to prepare valid wills, maintain accurate records, and regularly update their KYC information to reduce administrative delays.
A Collaborative Effort for Market Protection
The SEC stated that the clinic forms part of its broader investor protection strategy aimed at improving access to inherited investments and reducing the volume of dormant assets. The initiative builds on previous campaigns, such as the nationwide campaign to recover N270 billion in unclaimed dividends launched in July 2026.
By partnering with relevant stakeholders, the commission aims to provide investors, executors, and administrators with direct access to experts who can assist with tracing investments, verifying shareholder records, and resolving probate-related issues.
