SEC Seeks Nasarawa’s Support To Recover Unclaimed Dividends

The Securities and Exchange Commission (SEC) has sought stronger collaboration with the Nasarawa State Government to promote investor education, improve financial literacy and facilitate the recovery of unclaimed dividends and other investment assets.

The SEC Chairman, Alhaji Mairiga Aliyu Katuka, made the call during a courtesy visit to Governor Abdullahi A. Sule in Lafia, as part of the Commission’s Capital Market Awareness, Unclaimed Funds and Investor Education Outreach Programme in the state.

Katuka commended the state government for providing strategically located office space in Lafia for the Commission’s liaison office, saying the facility would bring its services closer to investors and residents.

The office, located within the complex previously occupied by the State Ministry of Education, is expected to become operational soon.

He described the gesture as a significant contribution to strengthening the Commission’s presence in the state and improving access to its services.

The SEC chairman also commended the state government’s efforts to promote investment, enterprise, industrialisation and sustainable economic development, noting that Nasarawa’s economic potential made it an important partner in expanding participation in the Nigerian capital market.

He urged the government to support the mobilisation of business owners, cooperative societies, youth groups, market associations and other stakeholders to participate in the Commission’s investor education initiatives.

According to him, improving public understanding of investment opportunities and risks is essential to helping Nigerians make informed financial decisions, protect their savings and contribute to economic growth.

In his response, Governor Sule commended the SEC for its regulatory role and efforts to protect investors, strengthen market confidence and promote informed participation in the capital market.

He acknowledged the importance of public enlightenment initiatives in improving awareness of legitimate investment opportunities and supporting financial inclusion.

The outreach programme brought together representatives of relevant institutions, academia, the Probate Registry, the National Population Commission and departments of the SEC to address challenges associated with unclaimed investments and promote greater awareness of the capital market.

Members of the SEC Board also delivered goodwill messages, emphasising the need for sustained investor education and stronger mechanisms to protect investors.

A major focus of the programme was the recovery of unclaimed dividends and other investment assets, which may remain inaccessible because of incomplete investor records, outdated shareholder information, changes in bank account details or difficulties transferring investments following an investor’s death.

The Commission stressed that such funds belong to investors and their beneficiaries, adding that efforts must be strengthened to ensure that rightful owners can access them through established procedures.

To address the challenge, the SEC 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.

Investors were encouraged to regularise their investment information and use the available facilities to facilitate the recovery of outstanding dividends.

The Commission also underscored the need for greater cooperation among registrars and other capital market operators to improve record management, resolve outstanding claims and enhance service delivery.

The initiative forms part of the SEC’s nationwide efforts to strengthen financial literacy, promote legitimate investment opportunities, combat fraudulent investment schemes and broaden public participation in the Nigerian capital market.

Through sustained collaboration with state governments, educational institutions, market operators and other stakeholders, the Commission seeks to improve investor protection, strengthen confidence in the market and expand access to reliable investment information.

Chdi Ugwu is a correspondent with Independent Newspapers.

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