By Ndubuisi Francis
The Securities and Exchange Commission (SEC) has assured investors in the capital market that with current efforts being made, the issue of unclaimed dividends currently being declared by companies would be foreclosed.
The Head, Office of the Chief Economist of the Commission, Mr. Okey Umeano, in an interview on Channels Television, said SEC had gone very far in solving the problem of unclaimed dividends, which he said, is a major milestone.
Umeano, who stood in for the acting SEC Director General, Ms. Mary Uduk, at the interview, said: “We have engaged Nigeria Interbank Settlement System to make use of the Bank Verification Number and we have got Central Securities Clearing System and the registrars working towards reducing it and there has been a marked reduction.
“More importantly, we know that there would be no future unclaimed dividends, there would be no addition to the unclaimed dividends profile and we count…
Source: Thisday Newspaper
