The Securities and Exchange Commission (SEC) of Nigeria has initiated a nationwide campaign aimed at recovering approximately N270 billion in unclaimed dividends and other dormant monies held by listed companies.
The regulatory push seeks to identify and return these funds to rightful shareholders, addressing a long-standing issue of inactive accounts and lost investor capital within the Nigerian capital market.
This initiative follows earlier reports that the Nigerian government was advancing plans to take custody of unclaimed dividends belonging to private shareholders.
Those proposals highlighted the complexities of income investing in the region, where administrative hurdles and outdated contact details often prevent investors from accessing their entitled payouts.
The current campaign represents a direct operational effort by regulators to clear these backlogs rather than simply seizing the funds.
For investors and market participants, the move underscores a broader regulatory focus on market integrity and investor protection.