Billions at Stake: How to Recover Your Unclaimed Dividends as NOA Joins the Push

The National Orientation Agency (NOA) has stepped into the ongoing issue of unclaimed dividends, urging Nigerians to act now to claim over ₦190 billion that has been sitting in the stock market. The agency is now actively working with the Securities and Exchange Commission (SEC) to raise public awareness and provide a clear pathway for investors to recover their rightful funds.

According to a statement from the NOA, a significant portion of the unclaimed dividends belongs to everyday Nigerians who may have forgotten about their old investments, have changed addresses without updating their records, or simply were not aware of the process for claiming their money. This communication is a critical step in reaching a wider audience and ensuring that the funds do not go to waste.

The process for reclaiming the money has been simplified and is being managed by the SEC. To begin, investors are advised to visit the SEC’s official website and use the U-eDIV Search Portal. The user-friendly portal allows individuals to search for their name to see if they have any unclaimed dividends.

Once a shareholder’s name is found, the portal will provide the name of the company’s registrar. The shareholder must then download and complete an e-mandate form from the registrar’s website. This form, along with a passport photograph and a valid means of identification, should be submitted to the individual’s bank or directly to the registrar’s office. Once verified, the unclaimed dividends are paid directly into the shareholder’s designated bank account.

This new push by the NOA and the SEC aims to address a persistent problem in Nigeria’s capital market and ensure that investors can fully benefit from their investments.