The Securities and Exchange Commission (SEC) and registrars recently asked shareholders to fill out e-dividend mandate forms and update their records to allow dividends to be directly credited to their bank accounts
The percentage of a business’s profit that is given to shareholders is known as a dividend. You get paid according to the quantity of shares you own if a firm announces a dividend and you own shares in it.
This is where a lot of money is kept: the SEC is looking for the owners of around ₦270 billion in unclaimed dividends and other investment cash.
Money declared by a business for shareholders but never collected is known as an unclaimed dividend.
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.
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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.
