The Securities and Exchange Commission (SEC) has launched a Probate/Unclaimed Monies Awareness and Investor Clinic as part of renewed efforts to help Nigerians recover unclaimed dividends, dormant investment accounts, and inherited financial assets while strengthening investor protection in the country’s capital market.
Speaking at the launch of the initiative in Abuja, SEC Director-General, Dr. Emomotimi Agama, described the programme as a major step towards addressing the long-standing challenge of unclaimed investments and making it easier for beneficiaries to access assets left behind by deceased relatives.
According to Agama, the investor clinic—organised in collaboration with Meristem Registrars and Probate Services Limited—is designed to bridge the gap between investors’ legal rights and the practical challenges many families face when trying to recover inherited shares, dividends, and other capital market investments.
SEC Targets Rising Cases of Unclaimed Investments
The SEC boss noted that thousands of Nigerian families are unable to access legitimate financial assets because they lack adequate knowledge of probate procedures, documentation requirements, and registrar processes.
He explained that unclaimed dividends and dormant investment accounts continue to pose a major challenge, despite representing valuable wealth that rightfully belongs to beneficiaries.
Agama reaffirmed the Commission’s commitment to resolving the problem through policy reforms, public education, and stronger collaboration with key institutions.
One-Stop Support for Beneficiaries
To simplify the recovery process, the investor clinic brings together representatives from the Federal Ministry of Justice, the Probate Registry, the National Population Commission, and leading capital market registrars.
Participants receive practical guidance on probate procedures, required documentation, verification of shareholder records, and the steps needed to successfully claim inherited investments.
Agama stressed that the initiative goes beyond public awareness by providing direct assistance to beneficiaries seeking to recover assets belonging to deceased family members.
He added that the SEC’s responsibility to protect investors extends beyond their lifetime, assuring Nigerians that the Commission remains committed to ensuring legitimate beneficiaries gain timely access to inherited investments.
Poor Estate Planning Fueling Unclaimed Assets
Also speaking at the event, the Acting Chief Executive Officer of Meristem Registrars and Probate Services Limited, Ms. Nkechinyelu Okoye, identified poor financial awareness and inadequate estate planning as key reasons behind the growing volume of unclaimed assets in Nigeria.
According to her, many families mistakenly believe that only physical assets such as land and buildings form part of an estate, often overlooking valuable financial assets including shares, fixed-income securities, savings, and other investments.
She noted that even where beneficiaries are aware such investments exist, many are unfamiliar with the legal procedures and documentation required to recover them.
Investors Urged to Update KYC Records and Write Wills
Okoye also identified outdated Know Your Customer (KYC) records as another major factor contributing to unclaimed investments.
She explained that incomplete shareholder information often makes it difficult for relatives to trace investments after the death of an investor.
To reduce future cases of abandoned financial assets, she urged investors to:
- Prepare valid wills.
- Regularly update their KYC records.
- Keep accurate shareholder information.
- Inform trusted family members about their investments.
According to her, these simple steps can save beneficiaries from unnecessary legal hurdles, financial losses, and prolonged delays.
SEC Deepens Investor Protection Drive
The Commission said the Investor Clinic forms part of its broader strategy to strengthen investor confidence, improve financial inclusion, and enhance transparency in Nigeria’s capital market.
Through the initiative, participants have direct access to experts who can help trace investments, verify ownership records, resolve probate-related issues, and facilitate the recovery of unclaimed dividends and inherited assets.
The SEC believes the programme will encourage more Nigerians to safeguard their investments while making it easier for future generations to access family wealth.
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