SEC laments high level of unclaimed dividends


By Ginika Okoye

The Securities and Exchange Commission (SEC) has lamented the high number of unclaimed dividends in the capital market.

A statement by the Commission in Abuja on Sunday, said Mr Lamido Yuguda, the Director-General of SEC, expressed the regret when Prof. Kabiru Bala, Vice-Chancellor of Ahmadu Bello University (ABU) Zaria, visited him.

Yuguda appealed to investors to mandate their accounts for electronic payment to reduce the number of unclaimed dividends.

He noted that many investors had shares in the market which they had abandoned.

“People have not come forward to claim their dividends and this has led to huge unclaimed dividends.

“The Commission has been educating and enlightening the public on how they can get their dividends. People do not need to wait for the broker to send the dividend warrants through the registrars.

“The dividends can be paid directly into their bank accounts through e-dividend payments,’’ he said.

Yuguda said that SEC was…

Source: News Agency of Nigeria