SEC moves to recover unclaimed dividends, deepens investor education in Nasarawa

The Securities and Exchange Commission (SEC) has stepped up efforts to recover unclaimed dividends and other investment assets while seeking stronger collaboration with state governments to expand participation in Nigeria’s capital market.

The commission made this known during its Capital Market Awareness, Unclaimed Funds and Investor Education Outreach Programme in Lafia, Nasarawa State, where it urged the state government to mobilise business owners, cooperative societies, youth groups and market associations to improve financial literacy and promote informed investment decisions.

The initiative is part of the SEC’s nationwide campaign to improve access to investment information, protect investors from fraudulent schemes and help Nigerians recover dividends and other assets that remain unclaimed.

Speaking during a visit to the State Governor, Abdullahi A. Sule, SEC chairman, Alhaji Mairiga Aliyu Katuka, sought stronger cooperation between the commission and the state government to broaden financial inclusion and bring capital market services closer to residents.

Katuka expressed appreciation to the governor for providing strategically located office space in Lafia for the Commission’s liaison office, which is expected to become operational soon.

The facility, located within the complex previously occupied by the State Ministry of Education, is expected to improve residents’ access to the commission’s services and strengthen its presence in the state.

The SEC chairman said the state government’s gesture would support the Commission’s efforts to deepen investor education and encourage greater participation in the capital market.

In his response, Governor Sule commended the SEC for its regulatory role and initiatives aimed at protecting investors, strengthening market confidence and improving public understanding of investment opportunities.

The governor also acknowledged the importance of collaboration between the commission and the state government in promoting financial inclusion, investment and economic development.

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Katuka, in turn, commended the state government’s efforts to promote enterprise, industrialisation and sustainable economic growth, describing Nasarawa’s economic potential as an opportunity to expand capital market participation.

A major focus of the Lafia outreach was the problem of unclaimed dividends and other investment assets, which the Commission said could result from incomplete investor records, outdated shareholder information, changes in bank account details and difficulties transferring investments after an investor’s death.

The SEC stressed that the funds represent the savings and investments of individuals and families and should be recovered by their rightful owners through established procedures.

To address the challenge, the Commission highlighted the enhanced e-Dividend Mandate Management System, which enables dividends to be paid directly into shareholders’ bank accounts and allows investors to update their records more conveniently.

Investors were urged to regularise their investment information and take advantage of the available facilities to facilitate the recovery of outstanding dividends.

The Commission also underscored the importance of cooperation among registrars and other capital market operators in improving shareholder records, resolving outstanding claims and enhancing service delivery.

The outreach brought together representatives of relevant institutions, academia, the Probate Registry, the National Population Commission and various departments of the SEC, highlighting the need for institutional collaboration in addressing unclaimed investments and improving public access to capital market services.

Members of the SEC Board who attended the programme also delivered goodwill messages, reaffirming the importance of sustained public enlightenment, investor protection and broader access to investment opportunities.

Beyond unclaimed funds, the Commission used the engagement to warn against fraudulent investment schemes and encourage residents to seek reliable information before committing their savings to investment opportunities.

Katuka said an informed population was better positioned to make sound financial decisions, protect its savings and contribute meaningfully to economic growth.

The Commission is seeking continued engagement with government institutions, educational bodies, market stakeholders and the public to strengthen investor confidence and promote responsible participation in Nigeria’s financial markets.

The planned opening of the Lafia liaison office is expected to provide an additional channel for residents to access the SEC’s services as the Commission intensifies its efforts to deepen financial literacy and expand the reach of the capital market beyond major commercial centres.