SEC launches drive to recover unclaimed investments

The Securities and Exchange Commission has launched a nationwide campaign to help Nigerian families recover billions of naira in unclaimed dividends and inherited investments, holding a special clinic in Abuja on August 6 to provide direct guidance to beneficiaries. The initiative, conducted in partnership with Meristem Registrars and Probate Services Limited, aims to address a persistent challenge where financial assets remain inaccessible after an investor's death due to complex probate procedures and a lack of awareness.

SEC Director-General Emomotimi Agama stated that the campaign is a core part of the regulator's investor protection mandate, which extends to ensuring beneficiaries can access what is rightfully theirs. He described unclaimed funds and dormant assets as money belonging to real families, sitting idle and disconnected from the people it was meant to serve. The Abuja event was designed as a working clinic, not merely an awareness session, bringing together officials from the Federal Ministry of Justice, the Probate Registry, the National Population Commission, and capital market registrars to offer practical assistance.

During the clinic, participants received...