A staggering US$120 million (#190 billion) in unclaimed dividends currently sits idle in Nigeria’s capital market, according to the Securities and Exchange Commission (SEC). This massive sum, equivalent to unredeemed earnings owed to shareholders, has become a persistent challenge for regulators, investors, and the broader financial ecosystem. What’s Behind the Accumulation? Several factors contribute to this looming issue: Out-of-date records and unclaimed shares due to shareholders relocating without updating contact or bank information. Legacy complications such as multiple subscriptions under fictitious or old names from past eras, especially during the indigenization period of the 1970s, where investments were made under aliases—drivers, gardeners, deceased relatives—to evade detection. Ongoing struggle with identity management and data integrity within systems like the electronic dividend (e-dividend) portal. Regulatory Response: SEC Takes Action The SEC is tackling the iss...
Nigeria’s property market is entering 2025 with a rare combination of strong demographic demand, urbanisation tailwinds, digital reforms that are de-risking title checks, and rising diaspora capital flows. For foreign and diaspora buyers, the question is no longer if you can participate, but how to structure, select, and manage assets for durable returns in USD terms. Why Nigeria—and why now? 1) Deep, resilient demand. Nigeria is Africa’s largest population with a fast-growing urban base. Even through macro volatility, households continue to rent, upsize, and seek proximity to jobs, schools, and transport—especially in Lagos and Abuja. Lagos residential rents rose by 15–20% year-on-year in 2024 , reflecting tight supply in prime and mid-market segments. 2) Diaspora capital is surging. Personal remittances to Nigeria reached $20.93 billion in 2024 , up 8.9% year-on-year, according to the Central Bank of Nigeria—an investable flow that historically finds its way into housing a...