There is a good chance that somewhere in your investment history, there is money you have forgotten about.
You may have bought shares years ago, changed your bank account, misplaced an old share certificate or simply never received a dividend payment. That money may still be yours.
The good news is that claiming unclaimed dividends in Nigeria is possible.
What are unclaimed dividends?
Unclaimed dividends are dividends declared by a company for its shareholders but not collected or paid into the shareholder’s account.
This can happen for several reasons, including outdated bank details, incomplete e-dividend registration or changes in personal information.
It is also important to distinguish unclaimed dividends from unclaimed shares. Your shares are your investment in a company; dividends are payments made to you from those shares when declared.
How to check for unclaimed dividends
The Securities and Exchange Commission (SEC) provides an online search facility where investors can check whether they have outstanding dividends. You can search using your name and identify the registrar linked to the dividend. (SEC Nigeria)
If you find your name, here is what to do next.
- Identify your registrar
Check the registrar column against your name. The registrar is responsible for maintaining records of shareholders and processing dividend payments.
- Set up your e-dividend mandate
An e-dividend mandate allows dividends to be paid directly into your nominated bank account. The SEC’s revamped e-DMMS also provides a self-service option for investors to set up their mandate electronically. (SEC Nigeria)
- Submit the required information
Complete the relevant e-dividend form and provide the required details and documents. The process can be completed through your bank or the relevant registrar. (SEC Nigeria)
- Follow up on your claim
Once your information has been submitted and verified, the relevant registrar can process the outstanding dividend for payment.
- What about older dividends?
The rules around older unclaimed dividends have changed. In its June 2025 circular, the SEC clarified that dividends that have remained unclaimed for six years or more are expected to be transferred to the Unclaimed Funds Trust Fund once it is operational. Pending its operationalisation, companies and registrars have been directed to continue honouring eligible claims. (SEC Nigeria)
What if you have lost track of your shares?
Sometimes, the challenge is not claiming the dividend but finding out what you own in the first place.
You may have an old share certificate, investments you made years ago that you no longer remember, or shares that belonged to a parent or relative who has passed away.
This is where Heritage Service by Norrenberger Securities Limited can help. The service helps clients trace and reclaim lost shares, unclaimed dividends and outstanding bonuses from quoted companies in Nigeria. It also supports families dealing with financial assets left behind by deceased relatives.
Heritage Service can assist with share certificate verification, collection of outstanding share certificates and dividend warrants, and dividend warrant revalidation, as well as the transfer of eligible financial assets to beneficiaries.
You can start by checking your name through the SEC. If your records are difficult to trace or you need help with the process, professional assistance can make the process easier.
That investment you forgot about may still be worth checking. Start with your name.
