Commission launches investor clinic to guide beneficiaries on accessing dormant shares, dividends and other assets left behind by deceased relatives…..
The Securities and Exchange Commission (SEC) has announced plans to strengthen efforts aimed at helping Nigerians recover inherited investments that have remained inaccessible due to probate challenges and administrative delays.
The Director-General of the SEC, Emomotimi Agama, disclosed this on Thursday during the opening of a probate and unclaimed monies awareness and investor clinic held in Abuja.
The initiative, organised by the commission in partnership with Meristem, is designed to educate beneficiaries on the procedures required to claim inherited investments while improving investor protection within Nigeria’s capital market.
Agama said many families lose access to valuable financial assets left behind by deceased relatives because they lack adequate knowledge of probate procedures, documentation requirements and the processes involved with investment registrars.
“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,” the SEC boss said.
He described unclaimed funds and dormant investment assets as a persistent challenge in the capital market, noting that many of the affected funds belong to legitimate beneficiaries but remain locked away due to legal and administrative barriers.
“These are real monies that belong to real families, sitting idle, disconnected from the people they were meant to serve,” Agama said.
According to him, the SEC is committed to reducing these barriers through regulatory reforms, investor education and direct engagement with affected individuals.
He explained that the investor clinic brings together representatives from the Federal Ministry of Justice, probate registry, National Population Commission (NPC), investment registrars and other relevant stakeholders to provide practical guidance on how beneficiaries can complete probate processes and recover inherited assets.
“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.
Agama stressed that investor protection remains a central responsibility of the SEC and does not end with the death of a shareholder.
“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,” he added.
Also speaking at the event, the Acting Chief Executive Officer of Meristem Registrars and Probate Services Limited, Nkechinyelu Okoye, identified lack of awareness, poor estate planning and outdated investor records as major reasons many financial assets remain unclaimed.
Okoye said her organisation has identified four major categories of beneficiaries affected by the problem.
She explained that some families are unaware that investments such as shares and fixed-income securities form part of an estate, while others do not even know their deceased relatives owned such assets.
Another category, she noted, includes beneficiaries who are aware of existing investments but lack the required information and documentation needed to claim them.
Okoye added that failure by investors to regularly update their Know Your Customer (KYC) information often creates additional difficulties, making it harder for families to trace and access inherited investments.
“All of these categories contribute to the several unclaimed assets lying all around. Ultimately, financial resources that could have been beneficial to these beneficiaries remain inaccessible,” she said.
She encouraged investors to take proactive steps by preparing valid wills, keeping accurate shareholder records and ensuring their personal information is regularly updated.
According to her, proper estate planning and organised financial records can significantly reduce delays, confusion and hardship for families seeking to access assets left behind by loved ones.
She added that simple actions taken during an investor’s lifetime can help ensure that their financial legacy is transferred smoothly to the people they intend to benefit.
