How can I receive dividend payments from NGX shares bought through Cowrywise in Nigeria?

This confusion is very common—and your app (Cowrywise) is actually telling you the truth.
Let me break it down clearly so you understand what’s going on and what you need to do.
🔑 First: Why Cowrywise doesn’t pay your dividends
Cowrywise (and similar apps) are just intermediaries. They help you buy and hold shares, but:
👉 They do NOT pay dividends
Instead:
The company you invested in declares dividends
The payment is handled by a Registrar (not the app)
The money is sent directly to your bank account, not through the app
🧠 What is happening in your case
If Cowrywise notified you that dividends were paid but you didn’t receive it, then one of these is likely:
1. You have NOT activated e-dividend
This is the most common issue.
If your bank account is not linked: 👉 Your dividend becomes unclaimed
👉 It will NOT enter your account automatically
✅ Correct process to receive your dividends (Step-by-step)
Step 1: Find your Registrar
Each company has a registrar (e.g. First Registrars, Coronation Registrars, etc.)
👉 You need this because:
They control your dividend payments
Not Cowrywise, not CSCS
Step 2: Fill E-Dividend Mandate Form
Download your registrar’s e-dividend form
Fill in:
Your name (must match your share record)
Bank account
BVN
Signature
Step 3: Submit the form
You have 3 options:
Through your bank
Through your stockbroker
Directly to the registrar
Once submitted: 👉 Future dividends go straight to your bank
👉 Old unpaid ones will also be credited
Step 4: Check if you already have unclaimed dividends
Go to SEC portal and search your name.
If found:
Note the registrar
Complete the same process above
🏦 Important structure (so you don’t get confused again)
Here’s how it works in Nigeria:
App (Cowrywise) → helps you invest
CSCS account → holds your shares
Registrar → pays your dividends
Bank account → receives the money
👉 Even Central Securities Clearing System confirms you must contact registrars to claim dividends
⚠️ Key mistakes people make
Thinking dividends come through the app ❌
Not activating e-dividend ❌
Using wrong bank details ❌
Name mismatch (very common) ❌
💡 Straight answer to your question
To access your dividends from Cowrywise:
👉 You must register for e-dividend with the company’s registrar
👉 Not inside the app