How Can I Recover Unclaimed Dividends and Old Honeywell Shares Bought in Nigeria in 2009?

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.