The Securities and Exchange Commission (SEC) has intensified efforts to facilitate the recovery of unclaimed dividends and other investment assets while warning Nigerians against fraudulent investment schemes as part of its drive to strengthen investor protection and deepen participation in the Nigerian 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 investors to regularise their investment records, adopt safer investment practices and take advantage of available mechanisms for recovering outstanding dividends.
The initiative is aimed at improving financial literacy, expanding public access to information about investment opportunities and helping investors identify and avoid fraudulent schemes that threaten their savings.
The Commission also highlighted the importance of 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 to facilitate the recovery of outstanding payments.
Unclaimed dividends and other investment assets remain a concern for the capital market, particularly where investors’ records are incomplete or outdated, bank account details have changed, or the beneficiaries of deceased investors encounter difficulties accessing the assets.
The SEC stressed that such funds represent the legitimate savings and investments of individuals and families, making it necessary to strengthen the processes through which rightful owners can establish their claims and recover their assets.
Investors were encouraged to ensure that their personal and banking information with registrars and other relevant market operators was accurate and up to date to reduce the difficulties associated with dividend payments and investment claims.
The Commission also underscored the need for cooperation among registrars and other capital market stakeholders to improve record management, address outstanding claims and make the recovery process more accessible to investors.
As part of the awareness campaign, the SEC urged members of the public to exercise caution when considering investment opportunities, particularly schemes promising unusually high returns without corresponding risks.
The Commission’s investor education efforts are intended to improve public understanding of legitimate capital market products, encourage informed investment decisions and reduce exposure to fraudulent operators.
The outreach programme brought together representatives of relevant institutions, academia and other stakeholders, including the ICMR, the Probate Registry, various departments of the SEC and the National Population Commission.
Their participation highlighted the importance of institutional collaboration in addressing unclaimed investments, improving financial literacy and ensuring that investors and beneficiaries can access the information and assistance required to recover their assets.
Members of the SEC Board who attended the programme also delivered goodwill messages, emphasising the importance of investor education, public enlightenment and sustained efforts to strengthen confidence in the Nigerian capital market.
Speaking during the engagement, the SEC Chairman, Alhaji Mairiga Aliyu Katuka, said the Commission’s outreach initiative formed part of its nationwide efforts to promote financial literacy, protect investors and expand access to capital market services.
He called on the Nasarawa State Government to support the mobilisation of business owners, cooperative societies, youth groups, market associations and other relevant stakeholders to participate in the programme.
Katuka noted that an informed population was better positioned to make sound financial decisions, protect personal savings and contribute to economic development through responsible investment.
He also stressed the importance of collaboration between the Commission and state governments in expanding investor education and improving access to information about investment opportunities.
As part of efforts to strengthen its presence in the state, Katuka paid a courtesy visit to the Executive Governor of Nasarawa State, Engr. Abdullahi A. Sule, to appreciate the government’s support and seek closer collaboration in advancing financial inclusion and capital market awareness.
During the visit, the SEC chairman expressed appreciation to the state government for providing office space in Lafia for the Commission’s liaison office.
The facility, located within the complex previously occupied by the State Ministry of Education, is expected to become operational soon and bring the Commission’s services closer to investors and residents of the state.
The planned operationalisation of the office is expected to improve access to the SEC’s services and provide a more accessible channel for investor-related enquiries and engagement within Nasarawa State.
In his response, Governor Sule commended the Commission for its regulatory role in the Nigerian capital market and acknowledged the importance of investor protection, public enlightenment and efforts to strengthen confidence in the financial system.
The governor also recognised the significance of initiatives designed to improve public understanding of investment opportunities and encourage informed participation in the capital market.
Katuka, in turn, 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 capital market participation.
The SEC said continued engagement with government institutions, academic bodies, market operators and the wider public would remain central to its efforts to improve financial literacy, protect investors and encourage responsible participation in Nigeria’s financial markets.
The Commission’s outreach comes amid continuing efforts to broaden retail participation in the capital market and improve investors’ access to information and services. Greater awareness of investment products, reliable investor records and accessible dividend recovery mechanisms are important to ensuring that individuals can exercise their rights as investors.
For investors with outstanding dividends or other unclaimed assets, the SEC’s message is to verify their investment records, engage the appropriate registrars or relevant market operators and use established procedures to resolve claims rather than rely on unverified intermediaries.
The Commission also reiterated the importance of investor vigilance, urging Nigerians to seek reliable information before committing funds to investment opportunities and to prioritise the protection of their savings.