5 Simple Steps to Unlock Your Hidden Dividends in Nigeria’s Stock Market

5 Simple Steps to Unlock Your Hidden Dividends in Nigeria’s Stock Market

You might own shares—but still be missing out on a slice of your profits. That’s the silent trap of unclaimed dividends in Nigeria. Think of it like money built for you… that you never got to spend.

Every quarter, companies announce earnings and send cash to their investors. But if your account isn’t active or your paperwork is stale, that cash can end up forgotten. In 2024 alone, 13 companies left a whopping ₦69 billion unclaimed—but the real problem is much bigger: as of March 2024, the market is sitting on ₦215 billion in forgotten dividends, according to the SEC.

If that shocks you, you're in the right place. Let's change that today.

Step 1: Check the E-Dividend Portal

The SEC’s E-Dividend Mandate Portal is your starting point. Visit the portal and enter your Bank Verification Number, bank name, account number, and your last name. This simple search can reveal years of unclaimed dividends that have been accumulating—including for some of Nigeria’s biggest companies like UBA (₦46bn), Zenith (₦30.6bn), and Access Holdings (₦17.7bn).

> Why it matters: If it’s holding your name—your money could be there too.

Step 2: Submit Your Identification Documents

Once the portal shows you have unclaimed dividends, you can move to getting them back. Upload:

A valid government-issued ID

A recent passport photo

A scan of your signature

These documents help the system confirm it's really you—and get your funds transferred into your bank.

Step 3: Update Your Contact Details and Mandate

Outdated contact info or missing e-dividend mandates mean companies can’t reach you—even if they’d like to pay. Take a moment to confirm your email, phone number, and bank mandate are updated. This ensures you don’t miss future payouts again.

Step 4: Don’t Wait—Keep Watching Your Account

After reclaiming lost dividends, set a habit: check the portal every year. Once you’ve kicked off, future payouts should go directly to your bank—no delays, no paperwork.

> Pro tip: If you've inherited shares, gather the deceased’s documentation early. Many heirs lose dividends because they didn't confirm ownership before the clock runs out.

Step 5: Push for Systemic Change

This isn’t just an individual issue—it’s a systemic problem. The SEC is rolling out tools and education campaigns, but… you can help too. Spread the word. Post in your WhatsApp groups or mention it in your investment club. More active investors mean fewer unclaimed dividends—and a healthier capital market for everyone.

Final Thoughts

Missing dividends? That’s money left on the table. But with these five steps, you can take charge and reclaim what’s yours—quietly, quickly, and confidently.

Your dividends aren't just profits—they’re proof that your investments matter. So go ahead—unlock them today, and make your money work the way it should.