The Securities and Exchange Commission (SEC) has launched a nationwide public awareness campaign to help Nigerians recover unclaimed dividends and other funds arising from capital market transactions.
The initiative commenced with a town hall meeting in Lagos and is designed to educate investors on the existence of unclaimed monies, the role of the National Investor Protection Fund (NIPF), and the process for verifying and recovering legitimate claims.
Speaking at the event, the Director-General of the SEC, Dr. Emomotimi Agama, represented by the Director of Registration and Exchanges, Market Infrastructure Department, Hafsat Rufai, said the campaign was part of efforts to ensure that funds belonging to investors are returned to their rightful owners.
According to the Commission, unclaimed monies managed by the NIPF include refunds from public offers, payments arising from mergers, acquisitions and corporate restructuring, as well as other capital market proceeds that have remained unclaimed over the years.
Agama described the growing volume of unclaimed investor funds as unacceptable, noting that many investors and their beneficiaries are either unaware that such monies exist or do not know the procedures for claiming them.
He said the SEC Board approved the nationwide enlightenment campaign to increase public awareness and simplify access to the claims process.
Following the Lagos launch, the Commission plans to extend the outreach to all six geopolitical zones and the Federal Capital Territory.
The SEC urged investors and their next of kin to take advantage of the campaign to verify any outstanding entitlements and begin the recovery process.
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