By Oluwakemi Kindmess
The Securities and Exchange Commission (SEC) says thousands of investors and beneficiaries across Nigeria are unaware that they may be entitled to unclaimed funds and investments in the capital market.
The funds include unclaimed monies from mergers and acquisitions, unallotted securities, return monies and investments inherited from deceased relatives.
The SEC disclosed this ahead of its Probate and Unclaimed Monies Awareness and Investor Clinic, scheduled for Thursday, August 6, at its headquarters in Abuja.
The one-day programme is part of a nationwide awareness campaign by the Commission in collaboration with Meristem Registrars and Probate Services Limited.
The campaign aims to improve investor protection, financial literacy and confidence in the capital market.
SEC Director-General, Dr Emomotimi Agama, said the initiative would help investors and beneficiaries understand how to recover investments due to them.
“Investor protection remains at the heart of the Commission’s mandate,” Agama said.
He said the campaign would bring regulators and market operators together to guide investors through the claims process.
According to the SEC, many investors and beneficiaries are unaware of their entitlements because they do not know the documentation and procedures required to make claims.
The Abuja clinic will provide practical guidance on unclaimed investments, share ownership, probate, share transmission and beneficiary claims.
SEC officials, registrars and other capital market professionals will also offer one-on-one assistance to participants.
The Commission encouraged investors with outstanding claims, shareholders with unclaimed monies, beneficiaries of deceased investors, executors and estate administrators to attend the free event.
Legal practitioners, investment advisers and prospective investors are also eligible to participate.
Participants are advised to bring relevant documents, including valid identification, share certificates, CSCS statements, dividend warrants, bank details, probate or letters of administration and death certificates where applicable.
The SEC said people without complete documents can still attend and receive guidance on the requirements and steps needed to regularise their claims.
The Commission also warned Nigerians to transact only through SEC-registered market operators.
It stressed that legitimate claims should not be processed through unofficial channels.
The SEC reaffirmed its commitment to building a fair, transparent and inclusive capital market where investors are informed and their rights are protected
