The ₦190 Billion Problem Hiding in Plain Sight
You could be richer than you think.
As of 2023, Nigerians had left behind over ₦190 billion in unclaimed dividends earnings from shares and investments that were never collected due to wrong details, inactive accounts, or ignorance.
Now, thanks to new digitized solutions from Nigeria’s financial authorities, you can claim what’s rightfully yours fast.
Why Do Dividends Get Lost?
Before we show you the fix, here’s why your dividend may have gone missing:
- You changed your name or bank account and didn’t update your records.
- You bought shares years ago but never completed your e-dividend registration.
- You used multiple CSCS or registrar accounts with mismatched data.
- Your old postal address or email no longer exists.
The result? Your dividend warrants expire after six years, and those funds go into limbo unless you act fast.
The Quickest Way to Reclaim Lost Dividends
Thanks to the Securities and Exchange Commission (SEC) and Central Securities Clearing System (CSCS), you now have two options:
- CSCS Investor Portal (For Active Stockbrokers)
If you’ve been active in the stock market:
- Visit www.cscs.ng.
- Log in with your CSCS number (usually from your broker).
- Go to Dividend History to see all dividend payments tied to your name.
- Print or save statements and contact respective registrars for unclaimed amounts.
This is ideal for investors who already have a CSCS account or a stockbroker
- SEC’s e-Dividend Portal (For Everyone Else)
If you don’t have access to CSCS or want to streamline your claims:
- Go to the SEC e-dividend portal: https://sec.gov.ng/non-mandated/
- Input your full name to check if you have unclaimed dividends.
- If you’re listed, download and fill out the e-dividend form.
- Submit the form to the registrar handling that stock (e.g., First Registrars, Africa Prudential).
- Attach a valid ID, passport photo, and a copy of your bank statement.
With this process, you don’t need to pay anyone to reclaim your funds. It’s 100% free and can be completed within 2–4 weeks, depending on registrar speed.
Why This Matters: Economic Impact
Unclaimed dividends are not just a personal issue they affect the entire Nigerian capital market. That ₦190 billion could:
- Boost liquidity in financial markets
- Fund infrastructure via reinvested capital
- Encourage more investor participation
By reclaiming your dividends, you’re not only securing your financial future you’re strengthening Nigeria’s economy.
Avoid Future Issues
To stop this from happening again:
- Register for e-dividends with your registrar (use the same names and bank details across platforms).
- Update your CSCS or stockbroker info annually.
- Keep a digital and physical record of all your share purchases.
Final Insight
Don’t leave free money on the table. With just a few clicks and documents, you can reclaim forgotten wealth and reinvest it or use it to fight inflation. Whether you’re a retail investor, pensioner, or a relative of a deceased shareholder, now is the time to act.