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The short answer
Dividends on NGX-listed shares are paid by each company's registrar into the Nigerian bank account on your e-dividend mandate. From Ireland you can set up or update the mandate through the NIBSS e-dividend self-service portal that the SEC announced in 2024, or through the registrar or your bank. Nigeria deducts withholding tax first; PwC lists 10% on dividends paid to non-residents.
If you hold shares in Nigerian companies, through an old broker account, a family gift or an employee share scheme, the dividends do not come to you automatically just because you own the shares. They go to a bank account the company's registrar has on file. If the registrar has no valid mandate, the dividend sits unpaid. From Ireland, the job is to make sure that mandate exists, points to an account you can use, and matches your name and BVN.
Who pays the dividend
Each listed company appoints a registrar to keep its register of shareholders and pay dividends. Dangote Cement's share information page, for example, names Coronation Registrars Ltd as its registrar, gives the registrar's address and phone in Victoria Island, Lagos, and says the e-mandate form is handled through the registrar. BusinessDay reported in 2022 that around 18 registrars serve more than 100 listed companies. Find your company's registrar on its investor relations or share information page.
Your shares themselves are held in your CSCS account, identified by your Clearing House Number (CHN). CSCS's FAQ says dividend and bonus claims go to the registrars, not to CSCS.
Setting up the e-dividend mandate from Ireland
The SEC's circular on the revamped e-dividend mandate management system (published 2 July 2024) gives two routes:
- Self-service online through the NIBSS e-dividend self-service portal, which the circular names, to mandate your bank account against your shareholdings.
- Through the registrar or your bank, to collect unclaimed dividends and receive future dividends electronically.
BusinessDay's 2022 explainer describes the paper route: get the registrar's e-dividend mandate form, fill in your name, BVN, account number and contacts, have it signed at your bank, and return it to the registrar or broker. From Ireland, the online route avoids needing a bank branch to stamp the form, so try it first.
What has to match
- The name on your shareholding, your BVN and the bank account must match. A changed surname after marriage is a common cause of rejection.
- The account must be a Nigerian bank account linked to your BVN. We did not find a rule allowing registrars to pay dividends directly to a foreign account.
- Your contact details with the registrar should include an email you check, so notices reach you in Ireland.
Withholding tax and what you receive
PwC's Nigeria withholding tax table (reviewed May 2026) lists 10% on dividends paid to non-residents, deducted before payment. The registrar's dividend notice should show the gross amount, the tax and the net amount.
Example: a dividend after withholding
Example only. You hold 10,000 shares and the company declares ₦5 per share. The gross dividend is ₦50,000; 10% withholding is ₦5,000; ₦45,000 is paid into your mandated account. Keep the notice: you need the gross figure and the tax withheld for your Irish return.
Checking for missed dividends
The SEC circular points shareholders to a non-mandated shareholders list on the SEC e-portal, where you can check whether you appear as unmandated. If you do, dividends may already be waiting; our guide to recovering unclaimed dividends from Ireland covers the claim. Some registrars publish their own unclaimed lists; Dangote Cement's page links lists from 2019 to 2025.
Irish tax
Revenue treats someone resident and domiciled in Ireland as chargeable on worldwide income, so Nigerian dividends belong on your Irish return. Our article on Irish tax on dividends from Nigerian shares explains how the 10% Nigerian tax fits in. Information, not advice.
When a dividend does not arrive
- Check the company actually declared a dividend and the payment date has passed; companies announce these through the exchange and on their investor pages.
- Check you held the shares on the qualification date the company set, not just on the payment date.
- Check the SEC non-mandated list; if you appear, your mandate was not matched.
- Write to the registrar with your name, CHN, the company and the dividend concerned, and ask for the payment status.
- If the registrar says it paid, ask for the date, amount and receiving account, then check that account's statement.
Most failures come down to a mandate that was never set up, an account that has since been closed, or a name that does not match. Using one Nigerian account in your BVN name for every holding makes all three less likely, and makes it easier to reconcile dividends for your Irish return at the end of the year.
A quick checklist
- List every company you hold and its registrar.
- Check the SEC non-mandated list for your name.
- Mandate one Nigerian account in your BVN name for all holdings.
- Update the registrar's email and phone to ones you use in Ireland.
- Save every dividend notice for tax.
Where Pryme fits
Dividends arrive in naira. A Pryme account holds naira and euro side by side, so you can leave dividends in naira or convert when you choose with Swap; the app shows the rate and the fee before you approve. If you are still building a portfolio, see buying NGX shares from Ireland.
Questions people ask
How do I receive Nigerian dividends while abroad?
Mandate a Nigerian bank account with the company's registrar, online through the NIBSS e-dividend self-service portal or via the registrar or your bank.
Can Nigerian dividends be paid into an Irish bank account?
We found no rule allowing registrars to pay to a foreign account. Dividends go to a Nigerian account linked to your BVN.
How much tax is deducted from Nigerian dividends?
PwC lists 10% withholding tax on dividends paid to non-residents.
How do I know if I have unclaimed dividends?
Check the SEC's non-mandated shareholders list and the registrar's own unclaimed dividend lists.
Sources
- Revamped E-Dividend Mandate Management System Portal, SEC Nigeria (2 Jul 2024) · accessed Oct 2026
- Explainer: steps for shareholders to get unclaimed dividends, BusinessDay (7 Dec 2022) · accessed Oct 2026
- Share information, Dangote Cement · accessed Oct 2026
- FAQs, CSCS · accessed Oct 2026
- Nigeria: Corporate - Withholding taxes, PwC Worldwide Tax Summaries (reviewed 29 May 2026) · accessed Oct 2026
- Tax residence, Revenue (24 Nov 2025) · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.