CAPITAL MARKETMARKETSTOP STORY

SEC records N80bn unclaimed dividends

The Director-General of Securities and Exchange Commission (SEC), Mounir Gwazo, has revealed that the nation’s unclaimed dividends now in the excess of N80 billion.

The DG who was speaking during a meeting with management of Nigerian Television Authority (NTA), in Abuja, regretted that the unclaimed dividends were from small stakeholders and that efforts were being made to ensure that they are claimed.

He says: “The issue of unclaimed dividend which according to our records is in the excess of N80billion will also be a thing of the past. These unclaimed dividends came about from dividends of small stakeholders like you and me and we need to ensure that they are claimed.

 

“Once we are able to get through with the registration process, those dividends that are less than 12 years, once the registrars can certify that the people are the owners, they should be able to pay them. Gradually we should be able to address the problem of un­claimed dividends” he said.

He also said that with Direct Cash Settlement, the era where shares will be sold and the proceeds will be given to the broker who will then pay the client is over as what is obtainable now is that once the shares of an individual are sold, the proceed is paid directly into his bank account. With this, once the client has autho­rized the broker and provided all his details, the proceeds will be paid into the client’s ac­count.

“We have no other place to invest our little funds than in our market and that is why we are trying to cultivate your ap­petite and the only way to do that is to address some of these issues. Once these issues are addressed and the retail inves­tor returns, we will be able to raise participation in the market from 2 per cent it is now to about 4 per cent in the next 10 years.

“The BVN platform that is being provided for the e-Dividend, will also enable us to implement other initiatives in the market. For instance with the BVN plat­form everyone that operates in this market as an investor will have his data within this system, so if anyone wants to defraud in this market, it cannot be done. People cannot impersonate oth­ers as the platform will expose them” he added.

He therefore solicited the sup­port of the Management of NTA in partnering with the SEC on its various public enlightenment programmes to ensure that the message gets to Nigerians even at the grassroots.

He equally sought the collaboration of media organizations in the country to ensure effective implementation of the Capital Market Ten Year Master Plan, adding that a successful implementation of the plan is necessary to attract retail inves­tors to the market, address some of the challenges that Nigeria’s Capital market faced during the global capital market crash that occurred in 2008-2010 and also raise the standard of the market.

 

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  • I’m not sure why but this site is loading extremely slow for me. Is anyone else having this issue or is it a issue on my end? I’ll check back later and see if the problem still exists.

  • Hey I know this is off topic but I was wondering if you knew of any widgets I could add to my blog that automatically tweet my newest twitter updates. I’ve been looking for a plug-in like this for quite some time and was hoping maybe you would have some experience with something like this. Please let me know if you run into anything. I truly enjoy reading your blog and I look forward to your new updates.

  • Does your site have a contact page? I’m having a tough time locating it but, I’d like to shoot you an email. I’ve got some creative ideas for your blog you might be interested in hearing. Either way, great blog and I look forward to seeing it grow over time.

  • Hiya! I know this is kinda off topic but I’d figured I’d ask. Would you be interested in exchanging links or maybe guest authoring a blog post or vice-versa? My website discusses a lot of the same topics as yours and I believe we could greatly benefit from each other. If you are interested feel free to send me an e-mail. I look forward to hearing from you! Awesome blog by the way!

  • Hey! This is my first visit to your blog! We are a group of volunteers and starting a new initiative in a community in the same niche. Your blog provided us useful information to work on. You have done a outstanding job!

  • I know this if off topic but I’m looking into starting my own blog and was wondering what all is required to get setup? I’m assuming having a blog like yours would cost a pretty penny? I’m not very internet savvy so I’m not 100% sure. Any tips or advice would be greatly appreciated. Appreciate it

  • I’m not that much of a internet reader to be honest but your sites really nice, keep it up! I’ll go ahead and bookmark your site to come back down the road. Cheers

  • Howdy would you mind sharing which blog platform you’re using? I’m going to start my own blog in the near future but I’m having a hard time making a decision between BlogEngine/Wordpress/B2evolution and Drupal. The reason I ask is because your design seems different then most blogs and I’m looking for something completely unique. P.S My apologies for being off-topic but I had to ask!

  • Hey I know this is off topic but I was wondering if you knew of any widgets I could add to my blog that automatically tweet my newest twitter updates. I’ve been looking for a plug-in like this for quite some time and was hoping maybe you would have some experience with something like this. Please let me know if you run into anything. I truly enjoy reading your blog and I look forward to your new updates.

  • Hey! I’m at work browsing your blog from my new iphone! Just wanted to say I love reading through your blog and look forward to all your posts! Keep up the superb work!

  • Write more, thats all I have to say. Literally, it seems as though you relied on the video to make your point. You definitely know what youre talking about, why waste your intelligence on just posting videos to your site when you could be giving us something informative to read?

  • We stumbled over here different page and thought I might check things out. I like what I see so i am just following you. Look forward to looking at your web page yet again.

  • I do not know whether it’s just me or if everybody else experiencing issues with your website. It seems like some of the written text within your content are running off the screen. Can somebody else please provide feedback and let me know if this is happening to them as well? This may be a problem with my web browser because I’ve had this happen before. Thank you

  • Hiya! You some kind of professional website hosting? Great message. Are you able to tell me learn how to subscribe your blog?

  • Hi, i read your blog occasionally and i own a similar one and i was just wondering if you get a lot of spam comments? If so how do you prevent it, any plugin or anything you can advise? I get so much lately it’s driving me crazy so any assistance is very much appreciated.

  • Whats up this is somewhat of off topic but I was wondering if blogs use WYSIWYG editors or if you have to manually code with HTML. I’m starting a blog soon but have no coding know-how so I wanted to get guidance from someone with experience. Any help would be enormously appreciated!

  • It’s going to be ending of mine day, however before ending I am reading this great post to improve my knowledge.|

  • Wow that was strange. I just wrote an really long comment but after I clicked submit my comment didn’t appear. Grrrr