SEC Vows to Tackle Unclaimed Dividends, Embrace Tech
By Patience Ikpeme
Securities and Exchange Commission (SEC) Acting Director General, Dr. Emomotimi Agama, has promised to address issues related to unclaimed dividends and other market concerns in a timely manner.
Agama made this pledge during a meeting with the Association of Securities Dealing Houses of Nigeria (ASHON) in Abuja. He referred to unclaimed dividends as a significant problem in the capital market that must be tackled promptly.
Agama urged stakeholders in the capital market to cooperate with the Commission to reduce the amount of unclaimed dividends. He assured the association that their suggestions would be implemented and encouraged them to submit practical proposals on how to deal with the issue.
The Acting DG stressed the need for a new approach to resolving the problem of unclaimed dividends. He emphasized the importance of strengthening institutions in the capital market and ensuring a smooth transition of responsibility.
Agama recently called on registrars to adopt technology to address the issue of unclaimed dividends. He emphasized the urgency of dealing with the problem and proposed embracing technology as one of the solutions.
The SEC Management has pledged to work towards eradicating market infractions and expanding the market for the benefit of the Nigerian economy. They are committed to achieving success in the country’s overall economic development.
ASHON Chairman, Mr. Sam Onukwe, expressed his appreciation for the appointment of Dr. Emomotimi Agama as the SEC Director General, along with the three Executive Commissioners. He described it as a positive development for the Nigerian Capital Market and the economy as a whole. Onukwe expressed confidence that Agama and his team would utilize their extensive experience to promote growth and development in the capital market and the Nigerian economy.
Onukwe also highlighted the significance of the SEC board being selected from within the system. He sees it as an opportunity for the team to set a new direction for the capital market and create a positive impact on the economy.
