•SEC headquarters, Abuja
Recently, the Securities and Exchange Commission (SEC) and registrars urged shareholders to complete e-dividend mandate forms and update their records to enable the direct crediting of dividends to their bank accounts.
A dividend is the portion of a company’s profit distributed to shareholders.
If you own shares in a company and it declares a dividend, you receive a payment based on the number of shares you hold, reports The Nation.
A lot of money sits this way: the SEC counts around ₦270 billion in unclaimed dividends and other dormant investor funds, and it is seeking the owners.
An unclaimed dividend is money a company declares for shareholders but that is never collected.
This can happen for several reasons:
• The shareholder moved without updating the records.
• Bank account details changed.
• No e-dividend registration.
• Shares were inherited, but the family didn’t know.
• Share certificates were lost.
• The shareholder passed away.
Step 1: Check for Unclaimed Dividends
Go to the SEC Nigeria Search Page or the CSCS Unclaimed Dividend List.
Type your full name or a family member’s name to search.
Note the specific company name and the assigned Registrar.
Step 2: Use the Self-Service Portal
Access the virtual interface via the NIBSS Self Service Portal.
Complete the electronic mandate form (e-DMMS) without visiting a bank.
Provide your Bank Verification Number (BVN) and active bank account details.
Step 3: Provide Required Verification Documents
Prepare digital copies of a valid ID (National ID, International Passport, or Voter’s Card).
Include your Clearing House Number (CHN) if available.
Submit passport photographs and a scanned signature as requested by the registrar.
For deceased relatives: Prepare the death certificate and Letter of Administration to claim on their behalf.
