The Securities and Exchange Commission (SEC) has intensified efforts to reduce unclaimed funds and other dormant investment assets by launching a Probate/Unclaimed Monies Awareness and Investor Clinic aimed at helping beneficiaries recover inherited investments while strengthening investor protection in Nigeria’s capital market.
Speaking at the opening of the clinic in Abuja on Thursday, the Director-General of the SEC, Dr. Emomotimi Agama, said the initiative, organised in partnership with Meristem, was designed to bridge the gap between investors’ legal entitlements and their ability to access inherited assets.
Agama explained that many Nigerian families experience prolonged delays in accessing shares, dividends and other investments left behind by deceased relatives due to limited knowledge of probate procedures, documentation requirements and registrar processes.
He described unclaimed funds and dormant assets as a persistent challenge, noting that they represent money belonging to families but remain inaccessible because of procedural bottlenecks.
“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,” he said.
According to him, the Commission remains committed to closing this gap through policy initiatives and direct engagement with investors and beneficiaries.
Agama noted that the clinic brought together officials from the Federal Ministry of Justice, the Probate Registry, the National Population Commission and capital market registrars to provide practical guidance on probate procedures, documentation requirements 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 SEC’s mandate to protect investors 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, the Acting Chief Executive Officer of Meristem Registrars and Probate Services Limited, Ms. Nkechinyelu Okoye, identified poor awareness and inadequate estate planning as major reasons billions of naira in financial assets remain unclaimed.
She explained that many beneficiaries either do not know that financial assets form part of an estate, are unaware their deceased relatives owned investments, or lack knowledge of the claims process and required documentation.
Okoye also pointed to a fourth category of investors who fail to update their Know Your Customer (KYC) records, leaving their families unaware of investments that could be claimed after their death.
According to her, these factors have contributed significantly to the growing volume of unclaimed dividends, dormant accounts and other abandoned financial assets across the country.
“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,” she said.
She urged investors to prepare valid wills, maintain accurate shareholder records and regularly update their KYC information to ensure their beneficiaries can easily access inherited investments.
“We want investors to appreciate the importance of preparing a valid Will, maintaining accurate shareholder records and ensuring that their affairs are properly organised. Taking these simple steps today can save families considerable stress and delay in the future,” she added.
The SEC said the Probate/Unclaimed Monies Awareness and Investor Clinic form part of its broader investor protection strategy and offered participants direct access to experts on tracing investments, verifying shareholder records, resolving probate-related issues and recovering unclaimed capital market assets.
