Nigerian investors are unaware that they’ll also presumably be sitting on unclaimed dividends, profits from shares they contain but maintain never got.
Despite digital advancements in the Nigerian capital market, unclaimed dividends continue to grow. As of March 2024, the Securities and Commerce Price (SEC) printed that the total worth of unclaimed dividends had reached ₦215 billion.
Even supposing dividends in Nigeria are legit for up to 12 years, older unclaimed funds can also finally be transferred to authorities coffers if not claimed. Acting early ensures you win what’s rightfully yours, without faithful considerations or loss.
Ought to you’re a shareholder or an heir to one, listed below are 5 of the quickest and most efficient ways to improve lost dividends in Nigeria.
1. Use the NIBSS E-Dividend Portal
The Nigerian Inter-Financial institution Settlement System (NIBSS), in collaboration with the Securities and Commerce Price (SEC), has developed an intuitive online platform for investors. By the E-Dividend Mandate Administration Portal, shareholders can fleet take a look at for unclaimed dividends during a couple of registrars and link their financial institution accounts.
What You Need to Present:
- Financial institution Verification Quantity (BVN)
- Your Financial institution Title and Myth Quantity
- Surname (as extinct for portion registration)
- Authentic contrivance of ID (e.g., NIN, driver’s license)
- Passport photograph and signature
Every listed firm on the Nigerian Commerce has a registrar, a company that handles dividend funds and shareholder information. Ought to you realize which firm you sold shares in, find out who the registrar is and win in touch with them at as soon as. Most registrars now maintain online portals and helplines for quick response.
Celebrated registrars include:
- CardinalStone Registrars
- First Registrars & Investor Companies
- Africa Prudential
3. Put up an E-Mandate Obtain at Your Financial institution
Banks in Nigeria for the time being are required to help investors in linking their financial institution accounts to their stock investments. Focus on about with any branch of your financial institution and connect aside a matter to for the E-Dividend Mandate Obtain. As soon as filled and submitted with the simply ID, it’s sent at as soon as to the registrar for processing.
4. Use the SEC’s Online Sources
The Securities and Commerce Price (SEC) has enviornment up investor portals that provide step-by-step instructions on how to claim dividends. That it is seemingly you’ll also additionally find updates on companies with plentiful swimming pools of unclaimed dividends.
Focus on about with: www.sec.gov.ng and explore the “e-Dividend” or “Investor Members of the family” section.
5. Observe By a Educated Capital Market Advisor
If your case involves deceased kinfolk or mature portion certificates, rob into story hiring a certified capital market consultant or attorney. They might be able to abet with:
- Probate or letter of administration (for inherited shares)
- Identification verification
- Claims involving a couple of registrars
Why It Matters
Unclaimed dividends describe lost income for investors, funds that can also maintain been reinvested, saved, or extinct for private needs. Some companies reported massive figures in 2024:
- UBA: ₦46 billion
- Zenith Financial institution: ₦30.6 billion
- Access Holdings: ₦17.7 billion
The SEC continues to push for transparency and digital tools to in the bargain of unclaimed dividends. However the accountability silent lies with investors to maintain up to date and total the strategy of linking their financial institution accounts to their shareholdings.
