The Securities and Exchange Commission (SEC) has intensified investor education in Nasarawa State, focusing on financial literacy, the recovery of unclaimed dividends and other investment assets, and protection against fraudulent investment schemes.
The Commission also urged the Nasarawa State Government to strengthen its collaboration with the regulator to mobilise business owners, cooperative societies, youth groups, market associations and other stakeholders for wider participation in the Nigerian capital market.
SEC Chairman, Mairiga Aliyu Katuka, made the call during a courtesy visit to Governor Abdullahi Sule as part of the Commission’s capital market awareness, unclaimed funds and investor education outreach programme in Lafia.
Katuka thanked the state government for providing office space in Lafia for the Commission’s liaison office, which is expected to become operational soon. The facility is intended to bring the SEC’s services closer to investors and residents of the state. The outreach also highlighted the challenge of unclaimed dividends and other investment assets, which may arise from incomplete investor records, outdated shareholder information, changes in bank account details and difficulties in transferring investments after an investor’s death.
The SEC stressed the need for investors and their beneficiaries to take steps to recover funds belonging to them through established procedures.
To facilitate the recovery of outstanding dividends, the Commission highlighted the enhanced e-Dividend Mandate Management System, which allows dividends to be paid directly into shareholders’ bank accounts and enables investors to update their records.
Investors were encouraged to regularise their investment information, while registrars and other capital market stakeholders were urged to improve record management and work towards resolving outstanding claims.
During the visit, Katuka also commended the state government’s efforts to promote investment, enterprise and industrial development, noting the importance of collaboration in expanding participation in the capital market.
Governor Sule, in his response, commended the SEC’s regulatory role and efforts to protect investors and strengthen confidence in the capital market. He also acknowledged the importance of public awareness in helping residents understand investment opportunities and make informed financial decisions.
The Commission said the outreach was part of its nationwide efforts to improve financial literacy, promote legitimate investment opportunities and protect Nigerians from fraudulent investment schemes.
It also emphasised the need for an informed public to make sound financial decisions, safeguard savings and participate responsibly in the financial markets.
Representatives of relevant institutions, including the ICMR, the Probate Registry, the National Population Commission, SEC departments and academia, attended the programme to discuss issues relating to unclaimed investments and public understanding of the capital market.