The Securities and Exchange Commission (SEC) has launched a nationwide awareness campaign aimed at helping Nigerians reclaim unclaimed dividends and other funds generated from capital market transactions.
The initiative commenced with a town hall meeting in Lagos on Thursday, where investors were educated on the existence of unclaimed funds, the role of the National Investor Protection Fund (NIPF), and the steps required to verify and recover genuine claims.
The SEC Director-General, Emomotimi Agama, who was represented at the event by Hafsat Rufai, Director of Registration and Exchanges at the Market Infrastructure Department, said the campaign was necessary to ensure that investors receive funds belonging to them.
Agama explained that unclaimed monies managed by the NIPF include proceeds from public offers, scheme considerations from mergers, acquisitions, corporate restructuring activities, and other investor-related funds that have remained unclaimed.
He described the situation where investors’ funds remain unattended as unacceptable, noting that many individuals and their families may either be unaware of the existence of such funds or lack information on how to access them.
“The Commission considers this situation unacceptable. Funds belonging to investors should ultimately find their way back to their rightful owners,” he said.
The SEC boss added that the commission’s board had approved the nationwide public enlightenment programme to educate Nigerians about unclaimed monies, the responsibilities of the NIPF, and the process for submitting valid claims.
He noted that the Lagos town hall meeting marked the beginning of the campaign, which will extend to the six geopolitical zones and the Federal Capital Territory (FCT).