The Securities and Exchange Commission (SEC) is launching a probate/unclaimed monies awareness and investor clinic aimed at helping beneficiaries recover inherited assets and strengthening investor protection.

Speaking at the opening of the clinic in Abuja organised by the Commission in partnership with Meristem on Thursday, SEC Director-General, Dr Emomotimi Agama, said the initiative was designed to bridge the gap between investors’ legal entitlements and their ability to access inherited assets.

In a statement, the SEC DG noted that many Nigerian families face prolonged delays in accessing shares, dividends and other investments after the death of loved ones because they are unfamiliar with probate procedures, documentation requirements and registrar processes.

“For many Nigerian families, the death of a loved one who held shares, dividends, or other investments marks the beginning of a long and often confusing journey,” Agama said.

Describing unclaimed funds and dormant assets as a persistent challenge, he said they represent “real money that belongs to real families, sitting idle, disconnected from the people it was meant to serve”.

According to him, the Commission is committed to closing the gap through policy initiatives and direct engagement with investors.

The clinic brought together the Federal Ministry of Justice, the Probate Registry, the National Population Commission and capital market registrars to provide practical guidance on probate procedures, required documentation and the recovery of inherited investments.

Also speaking, the Acting Chief Executive Officer of Meristem Registrars and Probate Services Limited, Nkechinyelu Okoye, identified lack of awareness and poor estate planning as key reasons billions of naira in financial assets remain unclaimed.

“There are three categories of beneficiaries that we encounter quite often. The first are those who think only land, houses and other physical assets can be transferred legally from deceased loved ones. They do not realise that financial assets such as shares, fixed income investments and even money in savings apps also form part of an estate,” she said.