How to Find Shares Your Parents or Relatives Bought in Nigeria

Why Family Members Often Cannot Find Old Nigerian Shares

Millions of Nigerians bought shares during the privatisation era of the 1990s and the pre-2008 stock market boom. Many of these investors — particularly older generations — never set up digital accounts, never completed e-dividend mandates, and in some cases passed away without informing family members of their shareholdings. The result is a large number of families who believe shares exist but have no idea how to locate them.

Step 1: Gather Any Available Information

The more information you can provide about the shareholder, the easier the search. Collect whatever you can find: the full legal name as it would appear on official documents; date of birth; addresses the person lived at over the years (covering as many years back as possible); any old share certificates, dividend warrants, or broker statements you can find in paperwork; the names of any stockbrokers they used if known; and the specific companies they may have invested in if you have any leads.

Step 2: Determine If the Shareholder Is Living or Deceased

The process differs depending on whether the person is still alive or has passed away. If the person is still alive: they can authorise a search in their own name and take direct action. A global share search can be submitted on their behalf with their consent and signature. If the person has passed away: the search must be conducted in the deceased's name, and any transfer of shares to beneficiaries will require estate administration documents (Grant of Probate or Letters of Administration from a Nigerian court). The search itself can be initiated without probate — but the transfer of shares to your name will require the legal documents.

Step 3: Run a Find My Shares Search

A structured global share search using the individual's name, date of birth, and address history can locate all CSCS accounts and shareholdings registered in their name. The search checks broker records and registrar records across the Nigerian capital market. Even if the shares were bought many years ago through a broker that no longer exists, the registrar records typically remain and the CSCS account can often be located.

Step 4: What to Do Once Shares Are Located

Once the search identifies holdings, the next steps depend on whether the original shareholder is alive or deceased: If living — the shareholder can update their registrar details, complete an e-dividend mandate, and arrange for transfer or consolidation to a current active account. If deceased — the estate representative (with Grant of Probate or Letters of Administration) can instruct the CSCS and registrar to transfer the shares to the named beneficiary's CSCS account. Any outstanding dividends declared since the date of death can also be claimed by the estate.

What Documentation You Will Need

For a living shareholder: their valid ID, consent, and basic personal details. For a deceased shareholder: the deceased's name, date of birth, and address history for the search; a death certificate; Grant of Probate or Letters of Administration (for transfers); and the beneficiary's valid ID and CSCS account details. An affidavit of identity may be needed if names appear differently in different records.

Frequently Asked Questions

Can I search for shares in a living parent's name without their knowledge?

No. A share search in another living person's name requires their authorisation. The registrar requires the account holder's signature on the search instruction. If the person has lost mental capacity, you may need a power of attorney or court order — seek legal advice.

What if the shares were bought before CSCS existed?

Shares bought before CSCS was established (which began operating in 1997) may still exist as paper certificates. If the paper certificate exists, the registrar still has records. If the certificate is lost, the registrar can issue a replacement after identity verification. A Find My Shares search can identify whether the registrar holds records in the person's name.

Can I claim dividends that were never paid to a deceased parent?

Yes. Unclaimed dividends remain owed to the estate. With the appropriate estate administration documents, the estate representative can claim outstanding dividends from each registrar and from the SEC's Investor Protection Fund for very old payments.