SEC Reveals ₦190 Billion Naira in Unclaimed Dividends – How to Check If You’re Owed Money

 

Many Nigerians may unknowingly have unclaimed dividends waiting for them, as the Securities and Exchange Commission (SEC) has revealed that about N190 billion in unclaimed dividends remains untapped. If you or your family members have ever invested in shares, now is the time to check if your name is on the list of beneficiaries.

This substantial amount consists of unpaid earnings from stocks, which have accumulated over the years due to shareholders not completing their mandates or failing to follow up on their entitlements. Fortunately, SEC has provided an easy way for Nigerians to search for their names and claim their dividends.

How to Check If You Have Unclaimed Dividends

Finding out if you are entitled to a share of this staggering amount is simple and can be done in a few steps:

1. Visit the SEC website: Navigate to the official SEC unclaimed dividends page: https://sec.gov.ng/non-mandated/
2. Enter your last name: In the search box, type only your surname (or your family name).
3. Click the search button: This will generate a list of individuals with unclaimed dividends.
4. Scan the results: Carefully check if your name or that of a relative appears on the list.
5. Click on your name: If your name appears, click on it to view details of the company where you have outstanding dividends.

What to Do Next?

If your name appears in the database, you will need to engage a registered stockbroker to help you track and claim your lost dividends. Stockbrokers can assist in retrieving your earnings and ensuring the funds are deposited into your account.

Why Are There So Many Unclaimed Dividends?

Several reasons contribute to the accumulation of unclaimed dividends in Nigeria:

• Unupdated Records: Many shareholders fail to update their contact details, leading to dividends being sent to old addresses.
• Ignorance: Some investors are unaware of their entitlements or forget about small investments made in the past.
• Failure to Register for E-Dividend: The e-dividend system was introduced to facilitate direct payment into shareholders’ bank accounts, but many investors have not completed the necessary registration.
• Death of Shareholders: When shareholders pass away without informing their family about their investments, these dividends remain unclaimed.

Why You Should Act Fast

Leaving your dividends unclaimed for too long could result in complications, including forfeiture in extreme cases. The SEC has encouraged all investors to complete their e-dividend mandate forms and regularly check their investment portfolios to avoid missing out on potential earnings.

This is not just about tracking lost money; it’s about securing what is rightfully yours. Several Nigerians who followed the search process have been shocked to find their names on the list and have successfully reclaimed their funds.

Final Thoughts

With N190 billion in unclaimed dividends, there is a strong possibility that you or someone you know could have money waiting to be claimed. Take a few minutes to check the SEC’s database today—you might just uncover a forgotten financial windfall.

Don’t leave money on the table! Share this information with your friends and family so they too can claim what’s theirs.