SEC Launches Clinic to Recover Unclaimed Investment Funds

The Securities and Exchange Commission (SEC) has launched a Probate/Unclaimed Monies Awareness and Investor Clinic in Abuja to address the issue of unclaimed funds and dormant investment assets. The initiative, led by SEC Director-General Dr.

Emomotimi Agama, aims to assist beneficiaries in recovering inherited investments and strengthen investor protection. Agama noted that many families face challenges accessing shares and dividends after a loved one's death due to unfamiliarity with probate procedures.

He described unclaimed funds as "real money that belongs to real families." The clinic, organized in partnership with Meristem Registrars and Probate Services Limited, included participation from the Federal Ministry of Justice, the Probate Registry, and the National Population Commission to provide guidance on probate processes. Ms.

Nkechinyelu Okoye, Acting CEO of Meristem, identified lack of awareness and poor estate planning as reasons for billions in unclaimed financial assets. She emphasized the importance of preparing valid wills and maintaining accurate records to facilitate access for beneficiaries.