For existing shareholders and families
Unclaimed Shares in Nigeria: How to Find Yours
Old paper certificates, shares with a registrar or broker you no longer use, and holdings under a vanished company name: start with the records to establish what is still registered to you and what an old holding became.
Start with the records
Losing a certificate does not remove your name from the register.
Follow the company name
Mergers, name changes and delistings can change what an old holding represents.
Shares and dividends
Trace the holding first. Ask its registrar separately about unpaid dividends.
What People Mean by Unclaimed Shares
Usually, "unclaimed shares" means shares still in your name that you have lost track of. They may be on paper certificates, with an old broker, or held by a registrar under a Registrar Identification Number rather than in your own broker account. Bonus shares issued after a certificate was printed may also be missing from your paperwork.
A company name disappearing does not tell you what happened to the investment. A merger may have exchanged the shares for new shares, cash or both. A delisting may leave an unlisted holding or an entitlement to a scheme payment. A bank whose licence was revoked may have left shareholders with no shares in the new bank. Check the particular company's history.
How to Find the Records
- Gather the names and paperwork. Collect old certificates, dividend warrants, allotment letters, former names, old addresses and any CHN. A missing certificate does not prevent a search.
- Ask the registrar. Check the company’s latest annual report or dividend notice for its registrar. Ask what is registered in your name, including successor shares, bonus shares and any unpaid scheme cash.
- Check your broker and CSCS records. Ask your old broker for a current CSCS statement. A holding may be with a broker or recorded with a registrar rather than shown on the old certificate.
- Search across records if you do not know where to start. Find My Shares searches registrars, brokers and the CSCS for holdings in your name. You receive findings, then choose which quoted balances to retrieve.
Start with the guide to finding your registrar. These guides cover official contact routes, shareholder records and dividend claims:
- Africa Prudential
- APEL Capital Registrars
- CardinalStone Registrars
- Coronation Registrars
- DataMax Registrars
- First Registrars
- Greenwich Registrars
- Meristem Registrars
- Veritas Registrars
Your broker can check your CSCS account. See our CSCS account guide for the account records involved. If you do not know which companies or brokers hold records, Find My Shares searches across registrars, brokers and the CSCS.
The SEC's Free Search Is for Dividends
The SEC's Non-Mandated Dividends Search lists accounts without an e-dividend mandate. It can give you a company and registrar to contact, but it is not a complete search for every shareholding, and it does not show dividend amounts. Not appearing there does not prove that you own no shares or are owed nothing. Our unclaimed dividends guide explains how to check and claim from the registrar.
What Happened to Old Bank and Company Shares?
These are the outcomes described in our existing company histories. Follow the link for the details and ask the registrar what applies to your name on the register; an old certificate alone does not establish today's balance or an unpaid amount.
| Old Company Name | Outcome Described in Our Guide |
|---|---|
| Diamond Bank | ₦1.00 cash per share plus 2 Access Bank shares for every 7 Diamond Bank shares. Access Bank shares later became Access Holdings shares one for one. |
| Intercontinental Bank | 1 Access Bank share for every 4 Intercontinental shares; no cash consideration. Access Bank shares later became Access Holdings shares one for one. |
| Oceanic Bank | 1 ETI ordinary share and 0.428 ETI preference shares for every 20 Oceanic shares. The preference-share conversion window closed on 31 October 2016; ask the registrar about any unconverted holding. |
| FinBank / First Inland Bank | 1 FCMB share for every 60 FinBank shares, rather than cash. FCMB shares became FCMB Group shares one for one in 2013. |
| Afribank, Bank PHB and Spring Bank | No shares in Mainstreet, Keystone or Enterprise Bank. The businesses moved to new bridge banks; the old shareholders did not become shareholders of those banks. |
| Skye Bank | No Polaris Bank shares. Skye Bank lost its licence and its shares were delisted; an old certificate is not a claim on Polaris. |
| Union Bank of Nigeria | Cash consideration under the scheme with Titan Trust Bank. The post refers holders to the scheme document for the amount; former holders ceased to be shareholders. |
| GlaxoSmithKline Consumer Nigeria | Consideration under the court-sanctioned scheme, payable through the registrar. The post refers holders to the scheme document for the terms and amount. |
| 11 Plc / Mobil Oil Nigeria | Holders who accepted the 2021 exit were due a payment. Those who did not exit remained shareholders in 11 Plc after delisting. |
| Ardova / Forte Oil / African Petroleum | Cash consideration under the scheme with Ignite Investments and Commodities. The post refers holders to the scheme document for the amount. |
| Other old Nigerian bank names | The bank-by-bank overview distinguishes mergers and acquisitions from licence revocations. There is no single exchange ratio for all old bank shares. |
Paper Certificates and a Deceased Relative's Shares
Keep a certificate as evidence of the registered name and company. It may predate bonus issues, a merger or a change of name. Read whether old share certificates are still valid, what to do about a lost certificate and converting a certificate into electronic shares.
If the holder has died, use the separate route for shares of a deceased relative. Shares Saver can search for the deceased shareholder's shares and handle transmission to the beneficiary. To start, the administrator, executor or next of kin needs letters of administration or probate, or at least a death certificate. Shares Saver does not obtain probate or letters of administration and does not give legal advice.
Search Fees and Timing
Find My Shares
₦10,000 per search, charged whether or not anything is found, including the findings report. Retrieving each balance from a broker or registrar costs ₦3,000, quoted after the findings; you choose which balances to retrieve. A balance can come back as 0 shares and the print is still charged. Moving found shares into Shares Saver is free; you can also keep them where they are.
Results usually come back in 2 to 4 weeks, counted from when your identity is verified and your signed authorisation is received. It depends on how many registrars and brokers need to be contacted and how quickly they reply. If shares are found, printing the balances takes a further 1 to 2 weeks after the printing fee is paid, and the report then appears in your Documents.
Start a Find My Shares SearchNot sure which companies you hold or where the records are? Search for holdings in your name.
Find My SharesThis page provides general information only. Shares Saver does not provide financial, investment, legal or tax advice.
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Educational information only — not investment, legal or tax advice. Share values can fall as well as rise. All securities transactions are carried out through SEC-regulated stockbrokers.