I bought shares from Trans international Bank plc in 1998,l was able to see certificates of shares dated 20 March 1998 and bonus certificates dated 3 march 1998 recently, the bank is not in existence,pls how do l get my dividend in this case, thank you for all you do.
The right network of people in banking industry will help you or did you have a investment number
The right network of people in banking industry will help you or did you have a investment number
See lessIf I were simply sharing what I have learned, I would advise you to approach it in three steps: 1. Find the successor to Trans International Bank. The bank did not simply disappear; Trans International Bank was one of the banks consolidated into Spring Bank Plc in 2006. So the old share certificateRead more
If I were simply sharing what I have learned, I would advise you to approach it in three steps:
1. Find the successor to Trans International Bank.
The bank did not simply disappear; Trans International Bank was one of the banks consolidated into Spring Bank Plc in 2006. So the old share certificate should first be traced through the successor/share-registration records.
2. Contact the current/appointed share registrar with the certificates.
Take the 1998 share certificate, bonus certificate, valid means of identification, BVN/NIN details and any old dividend warrant or shareholder information to the registrar handling the legacy shares. The registrar can trace the shareholder account and determine whether there are unclaimed dividends or shares arising from the subsequent restructuring.
3. Don’t assume the dividend is still payable simply because the certificate is old.
Ask the registrar specifically to conduct a share-account and unclaimed-dividend search and explain what happened to the Trans International Bank shares after the Spring Bank restructuring. There were also dividend declarations by Trans International Bank before the restructuring, so it is worth checking the historical dividend records.
In short: Don’t throw away those 1998 certificates. They are important evidence of the original investment. The first practical step is to trace the shares through the registrar/successor records, rather than going to a normal bank branch.
Henry Paul Akinmade
See lessBusiness Educator
Since the bank no longer exists your shares and dividends are likely unclaimed Steps to follow 1 Find your share certificate and means of ID 2 Check with the banks last known registrar or merger bank if any 3 Visit SEC Nigeria Unclaimed Dividends Portal and search with your name 4 Visit CSCS with yoRead more
Since the bank no longer exists your shares and dividends are likely unclaimed
Steps to follow
1 Find your share certificate and means of ID
2 Check with the banks last known registrar or merger bank if any
3 Visit SEC Nigeria Unclaimed Dividends Portal and search with your name
4 Visit CSCS with your CHN to check if shares were dematerialized
5 Fill e Dividend mandate form and submit to the registrar or SEC
Where to go now
SEC Nigeria Office in Abuja or Lagos has an Unclaimed Dividend Unit
You can also check SEC e Portal for unclaimed dividend claims
Key tip
See lessKeep your certificate safe
Dividends for defunct banks are usually kept by SEC for investors to claim
You need to contact your stockbroker agency to fill an e-dividend form
You need to contact your stockbroker agency to fill an e-dividend form
See lessthere is a possibility of recovering the dividends, even though Trans International Bank Plc no longer exists. SEC (security and Exchange Commission) records show that Trans International Bank Plc was one of the banks whose assets/liabilities were transferred in the 2006 consolidation that resultedRead more
there is a possibility of recovering the dividends, even though Trans International Bank Plc no longer exists. SEC (security and Exchange Commission) records show that Trans International Bank Plc was one of the banks whose assets/liabilities were transferred in the 2006 consolidation that resulted in Spring Bank Plc.
SEC Nigeria
Since you still have the 1998 share certificate and bonus certificate, those documents are very important evidence of ownership… So I don’t think have a problem🤷.
Also, I think in 2024 or 2025 I can’t really remember, the SEC clarified said that some old unclaimed dividends are still claimable and should not simply be rejected as statute-barred. SEC have portal as well you can check it out and Kno what it says about unclaimed dividend…
See lessAlright, let's break this down in a way that Mama Ngozi in the village can understand:Imagine Mama Ngozi bought something special called "shares" from Trans International Bank in 1998. These shares were like seeds she planted in the bank.Now, Mama Ngozi has certificates to prove she owns these shareRead more
Alright, let’s break this down in a way that Mama Ngozi in the village can understand:
Imagine Mama Ngozi bought something special called “shares” from Trans International Bank in 1998. These shares were like seeds she planted in the bank.
Now, Mama Ngozi has certificates to prove she owns these shares, just like having certificates for tomatoes in her shop to show they belong to her.
But here’s the twist: the bank, like a stall in the market, is no longer there. So, Mama Ngozi is wondering, “How do I get the ‘fruit’ of my shares, the dividends, when the bank is no more?”
Well, to claim her dividends, Mama Ngozi needs to find out if the bank that took over Trans International Bank is honoring those old shares. It’s like asking if a new shop owner will respect the old ownership of tomatoes in her market stall.
Mama Ngozi can start by contacting the new bank or seeking advice from the Securities and Exchange Commission of Nigeria (SEC). They are like the elders in the market who can help her sort things out.
By reaching out to the right people, Mama Ngozi can hopefully enjoy the ‘harvest’ of her old shares by receiving the dividends she’s entitled to. It’s like getting the tasty returns from the tomatoes she invested time and care into growing.
In summary, Mama Ngozi should reach out to the new bank or SEC to claim her dividends from the shares she bought back in 1998. Just like in the market, it’s about making sure her ownership is respected so she can enjoy the rewards of her investment.
I hope this helps Mama Ngozi understand how she can go about claiming her dividends in this situation. Stay tuned for more practical financial tips!
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