SEC launches probate clinic to unlock unclaimed dividends, inherited investments
By Aboki Forex —
The Securities and Exchange Commission has launched a Probate/Unclaimed Monies Awareness and Investor Clinic to help beneficiaries recover inherited investments and cut unclaimed dividends in Nigeria’s capital market.
The clinic opened in Abuja on Thursday, organised by the SEC in partnership with Meristem Registrars and Probate Services Limited. It brings together the Federal Ministry of Justice, the Probate Registry, the National Population Commission and capital market registrars to offer practical guidance on probate procedures and documentation.
SEC boss: Real monies belong to real families
Speaking at the opening, SEC Director-General Dr. Emomotimi Agama said the initiative was designed to bridge the gap between investors’ legal entitlements and their ability to access inherited shares, dividends and other financial assets after the death of loved ones.
Agama described unclaimed funds and dormant investment assets as a persistent challenge in the market. He said many families cannot access inherited investments because they are unfamiliar with probate processes and registrar requirements.
“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.
“These are real monies that belong to real families, sitting idle, disconnected from the people they were meant to serve,” Agama stated.
He said many investment assets remain disconnected from rightful beneficiaries because of documentation gaps and poor understanding of estate administration.
“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.”
“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.”
Registrar: Awareness gap drives unclaimed assets
Ms. Nkechinyelu Okoye, Acting Chief Executive Officer of Meristem Registrars and Probate Services Limited, said their goal is to equip investors with the knowledge needed to navigate probate and estate administration with confidence.
“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.
Okoye attributed the growing volume of unclaimed financial assets to inadequate awareness, poor estate planning and incomplete Know Your Customer records.
She said beneficiaries generally fall into three categories: those who assume only physical assets like land and buildings form an estate, overlooking shares, bonds and savings; those unaware that deceased relatives owned financial assets; and those who know the investments exist but lack knowledge of documentation and claims.
She added a fourth category: investors who fail to update KYC records during their lifetime, making it hard for beneficiaries to trace and claim investments after death.
Okoye urged investors to prepare valid wills, keep accurate shareholder records and regularly update KYC information to reduce delays in estate administration.
What the clinic means for investors
The SEC said the clinic forms part of its broader investor protection strategy. It gives investors, beneficiaries, executors and administrators direct access to experts from the Federal Ministry of Justice, Probate Registry, National Population Commission and capital market registrars.
The programme will assist with tracing investments, verifying shareholder records, resolving probate-related issues and recovering unclaimed assets. It also reinforces SEC efforts to promote investor education, improve KYC compliance and encourage proper estate planning.
For Nigerian families holding inherited shares and dividends, the clinic offers a clearer path to claiming assets that have been locked away by paperwork gaps. If fewer investments sit idle, the capital market stands to gain more active participation and improved investor confidence.