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The Securities and Exchange Commission (SEC) has intensified efforts to address the growing challenge of unclaimed investments by launching a nationwide awareness initiative aimed at helping beneficiaries recover shares, dividends, and other financial assets left behind by deceased investors.
The initiative, organised in collaboration with Meristem Registrars and Probate Services Limited, began with the Probate and Unclaimed Monies Awareness and Investor Clinic held in Abuja. The programme is designed to educate beneficiaries on the legal process for claiming inherited investments while encouraging investors to put proper estate planning measures in place to protect their families.
Speaking at the event, the Director-General of the SEC, Dr. Emomotimi Agama, said many Nigerian families face prolonged difficulties in accessing investments belonging to deceased relatives due to limited understanding of probate procedures and documentation requirements.
According to him, unclaimed dividends and dormant investments remain a significant concern in Nigeria’s capital market, with many legitimate beneficiaries unable to access assets that rightfully belong to them.
“For many Nigerian families, the death of a loved one who held shares, dividends, or other investments marks the beginning of a long and often confusing journey,” Agama said.
He explained that the investor clinic was structured as a practical engagement rather than a conventional awareness campaign, bringing together representatives from the Federal Ministry of Justice, the Probate Registry, the National Population Commission, and capital market registrars to guide participants through the probate process.
The SEC boss noted that attendees received step-by-step guidance on obtaining the required legal documents, verifying investment records, and recovering inherited financial assets.
“Today is not simply an awareness session. It is a working clinic designed to equip participants with practical knowledge on how probate works, the required documentation, and the process for recovering investments that rightfully belong to beneficiaries,” he stated.
Agama emphasised that the Commission’s investor protection mandate extends beyond the lifetime of shareholders, stressing that ensuring beneficiaries can seamlessly access inherited investments remains a key regulatory responsibility.
“This Commission exists to protect investors’ rights in the capital market, and that responsibility continues even after a shareholder passes away. Our goal is to ensure beneficiaries can access their entitlements without unnecessary hardship,” he added.
Also speaking, the Acting Chief Executive Officer of Meristem Registrars and Probate Services Limited, Ms. Nkechinyelu Okoye, identified inadequate estate planning and poor awareness as major contributors to the accumulation of unclaimed financial assets across Nigeria.
She explained that many families remain unaware that investments such as shares, fixed-income securities, and digital savings products form part of a deceased person’s estate and can be legally transferred to beneficiaries.
According to Okoye, the organisation frequently encounters beneficiaries who either do not know their late relatives owned financial assets or are unfamiliar with the legal procedures required to claim them.
She further identified another category of investors who fail to update their Know Your Customer (KYC) information during their lifetime, making it difficult for families to trace or recover investments after their death.
“These challenges continue to contribute to the rising volume of unclaimed assets across the capital market, leaving financial resources inaccessible to the families they were intended to benefit,” she said.
Okoye noted that the investor clinic was created to provide practical support for investors, beneficiaries, executors, administrators, and other stakeholders involved in estate administration.
She urged investors to prepare valid wills, maintain accurate shareholder information, and regularly update their KYC records to simplify the inheritance process for their families.
“Preparing a valid will, maintaining accurate shareholder records, and keeping personal information up to date are simple but important steps that can save beneficiaries significant delays and challenges in the future,” she said.
The SEC stated that the Abuja programme forms part of a broader nationwide strategy to strengthen investor protection by providing Nigerians with direct access to experts who can assist in tracing dormant investments, verifying shareholder records, resolving probate-related issues, and facilitating the recovery of unclaimed assets within Nigeria’s capital market.
As part of its broader regulatory agenda, the Commission said the initiative is expected to improve investor awareness, strengthen confidence in the capital market, and reduce the volume of unclaimed investments by making the recovery process more transparent and accessible.
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