08-29-2025, 06:39 PM
Many Nigerians are in this same situation. Years ago, parents or grandparents bought shares when one unit was sold for just a few kobo. But today, because of poor records, missing documents, or even death, the family never sees the benefits.
Let’s break it down clearly:
1. In Nigeria, companies and registrars won’t just hand dividends to you. By law, you must prove whether your father is alive or dead.
That requires either:
A. Probate (if there’s a Will), or
B. Letter of Administration (LOA) (if no Will).
And to get either one, you need a death certificate.
In Igbo land, after 7 years of someone missing, the family may perform burial rites. But legally, Nigeria doesn’t wait for 7 years.
You can go to court for a Presumption of Death Order before then.
Most families, however, still wait for the 7th year.
If your father is dead or missing, here’s what you should do:
1. Gather all his share certificates and dividend warrants.
2. Visit the registrars (e.g., Access Bank Registrars, Zenith Registrars, First Registrars) with proof of your father’s ID and your relationship (birth certificate or affidavit).
They will tell you plainly: without LOA, nothing moves. To access the dividends and shares legally, your family must choose:
(A) Wait until 7 years, declare him dead, get the death certificate, then apply for LOA.
(B) Apply to court now for “Presumption of Death,” then process LOA immediately.
Why you must act fast: Every year that passes, unpaid dividends are transferred to the Unclaim1ed Dividends Trust Fund under CBN & Debt Management Office. If you delay too long, claiming it becomes serious wahala.
My Advice to you:
1. Guard those certificates like gold.
2. Sit with your family and decide whether to wait till the 7th year or go to court now.
3. Once LOA is secured, transfer the shares to the family name and enjoy dividends going forward.
Lesson for everyone reading this:
If you are alive and you own shares or investments, don’t keep your family in future trouble.
1. Write a Will,
2. Set up a Trust, or
3. Add a clear Next of Kin.
Nigeria no dey smile. If you don’t plan, your sweat fit waste while your family suffers to claim what belongs to them.
Let’s break it down clearly:
1. In Nigeria, companies and registrars won’t just hand dividends to you. By law, you must prove whether your father is alive or dead.
That requires either:
A. Probate (if there’s a Will), or
B. Letter of Administration (LOA) (if no Will).
And to get either one, you need a death certificate.
In Igbo land, after 7 years of someone missing, the family may perform burial rites. But legally, Nigeria doesn’t wait for 7 years.
You can go to court for a Presumption of Death Order before then.
Most families, however, still wait for the 7th year.
If your father is dead or missing, here’s what you should do:
1. Gather all his share certificates and dividend warrants.
2. Visit the registrars (e.g., Access Bank Registrars, Zenith Registrars, First Registrars) with proof of your father’s ID and your relationship (birth certificate or affidavit).
They will tell you plainly: without LOA, nothing moves. To access the dividends and shares legally, your family must choose:
(A) Wait until 7 years, declare him dead, get the death certificate, then apply for LOA.
(B) Apply to court now for “Presumption of Death,” then process LOA immediately.
Why you must act fast: Every year that passes, unpaid dividends are transferred to the Unclaim1ed Dividends Trust Fund under CBN & Debt Management Office. If you delay too long, claiming it becomes serious wahala.
My Advice to you:
1. Guard those certificates like gold.
2. Sit with your family and decide whether to wait till the 7th year or go to court now.
3. Once LOA is secured, transfer the shares to the family name and enjoy dividends going forward.
Lesson for everyone reading this:
If you are alive and you own shares or investments, don’t keep your family in future trouble.
1. Write a Will,
2. Set up a Trust, or
3. Add a clear Next of Kin.
Nigeria no dey smile. If you don’t plan, your sweat fit waste while your family suffers to claim what belongs to them.