By Peter Omopo
Abuja, September 8, 2025 — The National Orientation Agency (NOA) has called on Nigerians to reclaim unclaimed dividends linked to their names and companies, warning that over ₦190 billion remains idle in the nation’s stock market.
In a public advisory issued Monday via its official X handle, the agency urged investors and shareholders to take advantage of existing processes provided by the Securities and Exchange Commission (SEC) to recover their funds.
Unclaimed dividends are declared cash payments to shareholders that remain unpaid due to issues such as outdated contact details, missing bank information, or beneficiaries being unaware of their entitlements. In such cases, companies transfer the funds into unclaimed accounts, which after a statutory period may be remitted to government coffers.
To assist Nigerians, NOA outlined a step-by-step process for claiming the funds:
- Visit the SEC website (https://home.sec.gov.ng) to search for unclaimed dividends tied to one’s name or company.
- Identify the registrar handling the shares through the portal.
- Download and complete an e-mandate form from the registrar’s website.
- Submit the form with supporting documents, including a passport photo and valid identification, via email, bank, or directly to the registrar.
- Follow up to confirm receipt and processing.
The agency added that investors can also use the Nigeria Inter-Bank Settlement System (NIBSS) self-service link or approach their registrars and banks to register for e-dividend payments.
The push comes after the SEC in July directed public companies and registrars to stop treating dividends older than 12 years as statute-barred. The Commission emphasized that dividends declared before the Finance Act 2020 remain valid and must be paid to rightful shareholders.
NOA stressed that reclaiming unclaimed dividends would not only empower citizens financially but also strengthen investor confidence in Nigeria’s capital market.
