This situation is very common in Nigeria, especially for shares bought before everything moved to electronic (CSCS). The good thing is: those shares are not lost — but recovering them requires a structured process.
Let’s break it down properly.
🔍 Step 1: Confirm the company status
Your friend bought shares in Honeywell Flour Mills.
Important update:
Honeywell was acquired by Flour Mills of Nigeria
It has been delisted from NGX
👉 Meaning:
The shares didn’t disappear
They were either:
Converted during acquisition OR
Still held but inactive/unclaimed
🧭 Step 2: Identify what your friend actually has
Since it was bought manually (paper era), your friend may have:
Share certificate (very important)
Allotment letter
Old CSCS statement (if later dematerialized)
Broker receipt
👉 If he has NONE of these, recovery becomes harder but still possible
🏦 Step 3: Contact the Registrar (THIS IS CRITICAL)
Every Nigerian company has a registrar that manages shareholder records.
For Honeywell, the likely registrar is:
👉 Meristem Registrars
Your friend should:
✔️ Do this:
Write/email the registrar
Request:
Shareholding verification
Statement of account
Dividend status
Provide:
Full name used in 2009
Possible address used then
Phone number/email
Approximate number of shares (16,000 units)
💰 Step 4: Recover Unclaimed Dividends
If dividends were not collected, they are likely:
👉 Sitting with:
Registrar OR
Central Securities Clearing System (if dematerialized)
Action:
Fill E-dividend mandate form
Submit to registrar or bank
This will:
Link shares to bank account
Pay all outstanding dividends
📊 Step 5: If shares were never digitized (very common)
Then your friend must do:
🔁 Dematerialization process
Convert paper shares → CSCS electronic form
Steps:
Open account with a stockbroker (e.g. Meristem, ARM, etc.)
Submit:
Share certificate
Valid ID
Broker sends to CSCS
Shares become visible in trading account
⚠️ Step 6: If documents are missing
Then it becomes a “lost certificate recovery” case
He will need:
Sworn affidavit (court)
Police report
Indemnity form from registrar
👉 This takes time but is still doable
🧠 Important Reality Check
Don’t assume the shares are still exactly “16,000 units of value”
Because:
Company restructuring may have happened
Shares may have been converted to FMN shares or cash
Dividends may be sitting unclaimed for years
✅ Clean Action Plan (Follow in order)
Contact Meristem Registrars
Request shareholder verification
Confirm:
Share status (active, converted, or claimed)
Dividend history
If paper shares exist → dematerialize
Set up E-dividend mandate
💡 My Advice (Based on your experience level)
Since you already understand investments:
👉 Help your friend do this:
Use a reputable broker (Meristem / ARM / Stanbic IBTC)
Let them handle registrar follow-up
This speeds things up massively.