Have you ever opened an old drawer in your parents’ house and found a bundle of papers called share certificates? Or maybe you vaguely remember investing in stocks years ago during the boom, but you’ve lost track of what happened. You’re not alone. Thousands of Nigerians have old or forgotten shares worth millions, just sitting idle because they don’t know how to reclaim or monetize them.

This guide will show you exactly what share certificates are, how to turn them into cash (or steady dividends), and how to locate missing or forgotten stocks, whether they’re yours or inherited from family.

What Exactly Are Share Certificates?

Think of a share certificate as the old-school “receipt” for owning part of a company. Before everything went digital, companies, especially during IPOs (Initial Public Offerings), issued physical certificates to investors. These pieces of paper were proof that you owned shares in Dangote Sugar, Zenith Bank, or any other quoted company.

The problem? Many of these certificates were delayed, misplaced, or forgotten over the years. Today, while the stock market has gone digital, those old papers still represent value, if you know how to use them.

Ways to Use Share Certificates

So, what can you actually do with them?

1. Collateral for Loans. If the shares are valuable, you can pledge them as security for loans.
   
2. Monetize Them. The smarter move: sell part or all of the shares. But before you can sell, you must first “dematerialize” them (convert them into electronic form).
   
3. Transfer Them. If the shares are in your child’s name, a spouse’s name, or even a late parent’s name, you can transfer ownership and still enjoy the value.
   

In other words, those dusty papers aren’t useless, they’re keys to hidden money.

How To Monetize Old Share Certificates

Here’s the exact step-by-step process:

1. Open a Stock Brokerage Account
   If you don’t already have one, choose a licensed stockbroker (like AfriInvest, Chapel Hill, or Stanbic IBTC).
   
2. Submit Your Certificates
   Hand the physical papers to your broker.
   
3. Dematerialization
   This is the process of converting your physical certificates into tradable electronic shares. Once converted, they’re entered into the Central Securities Clearing System (CSCS) database.
   
4. Sell or Hold
   After dematerialization, you can either sell immediately on the Nigerian Exchange (NGX) or hold them to earn dividends.

It’s that simple. The hardest part is usually just starting the process.

What If the Shares Aren’t in My Name?

This is more common than you think. Many people bought shares in the names of their children, spouses, or even with family names. Here’s how to handle it:

• If it’s in a child’s name (a minor), open a stock account for them which you’ll manage until they’re 18.
  
• If it’s in an adult’s name, you’ll need their consent to transfer or manage the shares.
  
• If it’s in a family name, you may need to open a joint account or appoint a trustee.
  

The key here is paperwork. As long as you can prove identity and ownership, you can unlock the value.

What If the Company No Longer Exists?

Don’t panic. Many companies have changed names, merged, or been acquired. For example, Intercontinental Bank eventually became part of Access Bank.

Steps:

1. Search Online for the current registrar of the company.
2. Contact the Registrar – They’ll confirm if the company has merged or been liquidated.
3. If Liquidated – The registrar will link you to the liquidator. If funds were recovered for shareholders, you may still be entitled to a payout.
   

How To Check the Value of Your Shares

To know if your shares are worth ₦50,000 or ₦5,000,000, simply:

1. Visit the Nigerian Exchange (NGX) or CSCS websites.
   
2. Download the latest daily stock prices.
   
3. Multiply the current price by the number of shares listed on your certificate.

Example: If your certificate says 10,000 shares of Zenith Bank and Zenith is trading at ₦30, your shares are worth ₦300,000.

How To Recover Missing or Forgotten Shares

So maybe your certificates are lost, or you’ve completely forgotten what you own. Don’t worry, recovery is possible.

Method 1: The Unclaimed Dividend Portal

• Google “Nigeria unclaimed dividend portal.”
• Enter your full name.
• The portal will show any unclaimed dividends or shares linked to you.
  

Method 2: Global Search via Stockbroker

• Choose a reputable stockbroker.
  Request a “global search” across all registrars using your name.
• Pay a small fee.
  
• They’ll return a full list of all shares and dividends registered under your name.
  

Method 3: If You’ve Moved Abroad

• Visit the CSCS website.
  Use their products & services portal to register and view your holdings from anywhere in the world.
  

What About Inherited Shares?

If your parents or relatives left shares, you can reclaim them.

• If there’s a will: Work with the executor to transfer shares.
• If no will: Apply for a Letter of Administration from the probate court, then open an estate account. Your stockbroker will help transfer the shares into your name.

Tip: Don’t throw away old certificates you find at home  they’re still valid once verified.

Why Do Shares Get Lost in the First Place?

• Moving houses without updating stockbroker details
• Misplaced or stolen certificates
• Dividends sent to old addresses
• Bonus shares issued electronically without your knowledge

The good news: shares never truly “disappear.” They sit in the system until claimed.

Why Recovering Shares Matters

1. Wealth Building – Old shares may have appreciated significantly.
2. Passive Income – Regular dividends could be waiting.
3. Portfolio Growth – These shares diversify your investments.
4. Family Legacy – Honouring your parents’ foresight by reclaiming what they worked for.
   

Imagine discovering that the shares your father bought for ₦50,000 in 2002 are now worth ₦5 million. That’s the power of recovery.

Recommended Nigerian Stockbrokers for the Process

• AfriInvest – Strong research and full-service brokerage
• Atlas – Known for thorough client support
• Chapel Hill – Experienced in share transfers and estate planning
• Corderos – Good customer service for retail investors
• Stanbic IBTC – Backed by an international group, extensive expertise

Always choose a licensed broker, avoid “middlemen” who promise shortcuts.

Are you sitting on unclaimed wealth? Don’t let old share certificates gather dust in a drawer or remain hidden in the system.

Here’s your quick action plan:

1. Start with the Unclaimed Dividend Portal, it’s free.
2. Contact a licensed stockbroker for dematerialization or global search.
3. For inherited shares, sort out the legal documents first.
4. Always activate your CSCS account for a clear view of all your holdings.
   

Your old shares aren’t just pieces of paper. They’re part of your financial heritage, and possibly your financial breakthrough.

Take the first step today. Your future self (and your family) will thank you.

I’m rooting for you.

Isaac Oladipupo,

Your Growth Partner