I bought few units of shares about 15 or 17 years ago, through some stockbrokers who came to market purchase of shares at my workplace. whenever anyone of them come around to tell me of any shares, I ignorantly gave the person money to buy without knowing the number of Unit or what it meant to invest in shares. Some of them came back with certificates, while others did not. However, I received dividends of some without certificate and I didn’t claim them because the amount was small.
Recently, due to Iking Ferry’s financial literacy advocacy, I realise I may be having money sitting somewhere but I don’t know how to go about recovering the shares. please what can I do to search for these shares?
What you are describing is very common in Nigeria — especially from 1990s–2010s workplace share offers, brokers, and privatisation-era investments. The good news is: 👉 Most of those shares are NOT lost. They are usually sitting in registrars’ systems under your name or a misspelling of your details.Read more
What you are describing is very common in Nigeria — especially from 1990s–2010s workplace share offers, brokers, and privatisation-era investments.
See lessThe good news is:
👉 Most of those shares are NOT lost. They are usually sitting in registrars’ systems under your name or a misspelling of your details.
You just need a proper tracing + verification process.
🧭 STEP-BY-STEP: How to Recover Forgotten / Unclaimed Shares in Nigeria
🥇 STEP 1: Start with Your Identity Search (Most Important)
Before anything else, gather:
Full name used at the time (including possible old spellings)
Any old phone numbers
Old workplace details (very important clue)
Any broker name you remember
Any certificate copies (even partial)
👉 Why this matters: In Nigeria, shares are tracked by:
Name (not just account number)
Registrar records
Broker records
🥈 STEP 2: Search via Central Securities Clearing System (CSCS)
Your shares today are likely dematerialized and held in:
Central Securities Clearing System Plc
What CSCS does:
Holds electronic share records
Matches investors to brokerage accounts
Links all dematerialized shares
What to do:
Visit a stockbroker (any licensed one)
Request a CSCS account search / investor search
Provide your full biodata
They can trace:
All shares linked to your identity
Even dormant accounts
🥉 STEP 3: Contact Share Registrars Directly (VERY IMPORTANT)
Registrars maintain shareholder records.
You should check major ones like:
First Registrars and Investor Services
Coronation Registrars
GTI Registrars
CardinalStone Registrars
What to request:
Ask them:
“Please search for all shares, dividends, or unclaimed investments under my name and variations.”
They will check:
Shareholding records
Unclaimed dividends
Dividend history
🧾 STEP 4: Check for Unclaimed Dividends First (EASIEST WIN)
Many investors in your situation:
Have shares intact
But dividends were never claimed
You may already have money sitting there.
Ask registrars for:
Dividend statements
Unclaimed dividend balance
🏦 STEP 5: Validate Through SEC Nigeria Unclaimed Portal
You can escalate verification through:
Securities and Exchange Commission Nigeria
They oversee:
Unclaimed dividends register
Investor protection
Market-wide share tracing support
📉 STEP 6: Check These Common Hidden Sources
Your shares may be in:
1. Old privatisation shares
Banks
Telecoms
Oil & gas companies
2. Workplace IPO schemes
Staff share offers
Broker-arranged allocations
3. Mutual conversions
Shares moved into CSCS but never claimed
⚠️ COMMON REASONS PEOPLE “LOSE” SHARES
Name spelling mismatch (e.g. “Ocho Yoda” vs “Ochoyoda”)
No CSCS migration done
Broker firm shut down or merged
Dividend not claimed for years
Certificate misplaced
💡 REALITY CHECK (IMPORTANT)
In Nigeria:
👉 Shares rarely disappear
👉 They usually become “dormant holdings”
So what you are looking for is:
Dormant portfolio
Unclaimed dividends
Unupdated CSCS account
NOT lost money.
🚀 BEST ACTION PLAN (SIMPLIFIED)
Do this in order:
1. Go to any licensed stockbroker
Ask for:
CSCS search of your name
2. Contact 2–3 registrars
Ask for full search under your name
3. Check unclaimed dividends database via SEC support
4. Consolidate everything into one CSCS account
📌 FINAL ADVICE
Given your case (15–17 years ago):
👉 There is a HIGH chance you have:
Dormant shares
Unclaimed dividends
Multiple fragmented holdings
You may even discover:
Stocks that have grown significantly over time
If you want, I can help you go deeper:
👉 Tell me:
Your old workplace/company names
Any broker name you remember
Any certificate details (even partial)
I can map out exactly which registrars to start with first so you don’t waste time.
i must sincerely thank you for the detailed explanation. Are you a Stock Broker?
i must sincerely thank you for the detailed explanation. Are you a Stock Broker?
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