SEC Set to Clear N80billion Unclaimed Dividends

 The Securities and Exchange Commission, SEC, has said it is putting in place machinery to clear unclaimed dividends worth over N80 billion.

Its Head, Corporate Communications, Naif Abdussalam, said that the capital market regulator would this week commence a road show to sensitise Nigerians on their rights to the unclaimed dividends and how to redeem them before holding a Town Hall meeting with stakeholders on the matter.

He said the SEC, has “directed all registrars of public companies to return all unclaimed dividends, which have been in their custody for 15 months and above, to the paying companies.”

The SEC also notified the public that enrolment for e-Dividend payments could now be efficiently conducted at bank and registrar branches nationwide through the online platform launched on July 29, last year.

The e-Dividend scheme, Abdussalam said, “has been a priority initiative for the entire capital market in a bid to curb the growth of unclaimed dividends and improve the overall efficiency of Nigeria’s equities markets.”

 

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