By Abiodun Folarin
WorldStage— The Securities and Exchange Commission (SEC), has stepped up efforts to tackle Nigeria’s growing volume of unclaimed dividends and dormant investment assets by launching a Probate/Unclaimed Monies Awareness and Investor Clinic to help beneficiaries recover inherited investments and strengthen investor protection.
The initiative, organised by the Commission in partnership with Meristem, is aimed at simplifying the probate process, improving public awareness and ensuring that beneficiaries can access investments left behind by deceased relatives without unnecessary delays.
Speaking at the opening of the clinic in Abuja on Thursday, SEC Director-General, Dr. Emomotimi Agama, said many Nigerian families are unable to claim shares, dividends and other financial assets because they lack knowledge of probate procedures, documentation requirements and registrar processes.
“For many Nigerian families, the death of a loved one who held shares, dividends, or other investments marks the beginning of a long and often confusing journey,” Agama said.
He described unclaimed funds and dormant assets as a persistent challenge in Nigeria’s capital market, noting that they represent legitimate wealth belonging to families but remain inaccessible due to procedural and knowledge gaps.
According to him, the Commission is committed to bridging the disconnect through policy reforms and direct engagement with investors and beneficiaries.
Agama explained that the clinic brings together the Federal Ministry of Justice, the Probate Registry, the National Population Commission and capital market registrars to provide practical guidance on probate procedures, required documentation and the recovery of inherited investments.
“Today is not simply an awareness session. It is a working clinic, designed to equip you with practical knowledge: how probate works, how to obtain the right documentation, and how to recover what is rightfully yours,” he said.
He stressed that the Commission’s investor protection mandate extends beyond the lifetime of shareholders.
“This Commission exists to protect your rights in the capital market, and that protection does not end when a shareholder passes on. It extends to ensuring their beneficiaries can access what is due to them without unnecessary hardship,” Agama added.
Also speaking, Acting Chief Executive Officer of Meristem Registrars and Probate Services Limited, Ms. Nkechinyelu Okoye, attributed the growing volume of unclaimed financial assets to low public awareness, poor estate planning and failure by investors to keep their records updated.
She identified several categories of beneficiaries frequently encountered by registrars, including those unaware that financial assets form part of an estate, those who do not know their deceased relatives owned investments, and those who know the assets exist but lack information on how to process claims.
Okoye added that many investors also fail to update their Know Your Customer KYC information, making it difficult for their families to identify and recover investments after their death.
“All of these categories contribute to the several unclaimed assets lying all around. Ultimately, financial resources that could have been beneficial to these beneficiaries remain inaccessible,” she said.
She described the investor clinic as a practical intervention designed to assist investors, beneficiaries, executors and administrators in navigating probate and estate administration more effectively.
“Our goal is to empower investors, beneficiaries, executors, administrators and the general public with the knowledge they need to navigate probate and estate administration with greater confidence,” Okoye said.
She urged investors to prepare valid wills, maintain accurate shareholder records and regularly update their KYC information to ease the transfer of financial assets to beneficiaries.
According to the SEC, the clinic forms part of its broader investor protection strategy and offers participants direct access to experts who can assist with tracing investments, verifying shareholder records, resolving probate-related issues and facilitating the recovery of unclaimed capital market assets.
