Emmanuel Ukudolo I Tuesday, July 15, 2025
LAGOS, Nigeria – The Security and Exchange Commission, SEC has directed all Registrars in Nigeria to return all unclaimed dividends to the Debt Management Office, DMO.
The DMO said the directive is sequel to the provision of the Finance Act 2020 and the creation of the Unclaimed Funds Trust Fund, UFTF.
The dividends, according to SEC are to be paid into a designated account with the DMO.
Accordingly, all unclaimed dividends in our custody that have been outstanding for a period of six (6) years but less than twelve (12) years as at December 31, 2020; and all unclaimed dividends of six (6) years and above accumulated from January 1, 2021 to June 10, 2025″, are affected, one of the Registrars said in a letter to a shareholder.
It added that this development implies that all outstanding dividends above 6 years are to be remitted to the Unclaimed Funds Trust Fund (UFTF)”, the Registrar said.
“Please note that this process is in compliance with regulatory requirements and will be executed immediately”, the statement said.
