SEC to Help Investors recover N190bn Unclaimed Dividend
By Patience Ikpeme
The Securities and Exchange Commission (SEC) has vowed to assist investors reclaim over N190 billion in unclaimed dividends.
To achieve this, the commission will conduct investors clinic throughout 2024 to educate investors in the country.
This initiative aims to reduce the amount of unclaimed money, which totaled about N190 billion as of August 2023.
The goal is to ensure investors are aware of their investments and can access the money owed to them.
These seminars will educate Nigerians on leveraging the capital market, transitioning to electronic dividend payments (e-dividend), converting paper share certificates into electronic form for efficient management, and receiving payments directly into their personal bank accounts.
Unclaimed dividend often occurs when investors relocate or fail to update their information with investment companies. Lamido Yuguda, Director General of SEC, emphasized the importance of simplifying processes for investors to access their funds, such as utilizing e-dividend payments.
SEC aims to strengthen Nigeria’s capital market competitiveness globally. Following a successful three-day clinic in Yobe State, SEC plans to host similar events nationwide in 2024.
Overall, SEC seeks to make investing more attractive for new investors and facilitate the retrieval of funds for existing investors, particularly those who may have neglected to manage their investments effectively.
