…To sanction stakeholders over unclaimed dividends

August 19, 2022
12 Views

The Securities and Exchange Commission (SEC) has said it would sanction stakeholders whose actions were frustrating its efforts toward reducing the volume of unclaimed dividends.

Its director-general, Mr. Lamido Yuguda, said this at a post Capital Market Committee (CMC) news conference Friday in Abuja.

Yuguda lamented that despite the Commission’s efforts in ensuring Electronic Dividend Mandate Management System (e-DMMS), investors had continued to lament the delay in the payment of their e-dividends.

According to him, a lot of investors have yet to mandate their account to be able to receive their dividends.

Yuguda said unclaimed dividends as at 2021 stood at N177 billion, which was higher than the 2020 figure of N168 billion.

“Capital market operators must also do more to demonstrate through their activities, an efficient capital market system that prioritises the interest of investors. As part of our efforts to stem the tide of activities of unregistered crowd funding platforms, the commission warned the operators of these platforms that they stand the chance of being prosecuted,” he said.

The director-general also said the Commission had obtained donor funding to acquire and deploy securities market surveillance system.

He said the Commission would continue to engage the Standards Organisation of Nigeria (SON) to deepen the commodities ecosystem.

You may be interested

For How Long Is My Motor Insurance Policy Valid?
Business
5 shares61 views
Business
5 shares61 views

For How Long Is My Motor Insurance Policy Valid?

Webby - September 12, 2022

When purchasing auto insurance, you can tailor many aspects, including the types of coverage you select, the amount of your…

Police Rescues Twelve Abducted Victims In Enugu
News
1 views
News
1 views

Police Rescues Twelve Abducted Victims In Enugu

Webby - September 23, 2022

Twelve victims abducted by hoodlums have been rescued by men of the Enugu state police command.A statement released by the…

Family Finds Out They’ve Visited The Wrong Grave Of TheirFather For 43 Years
News
News

Family Finds Out They’ve Visited The Wrong Grave Of TheirFather For 43 Years

Webby - September 23, 2022

A family has been shattered after discovering they have been visiting the wrong grave for more than 40 years. Sylvia…

85% Of Nigerian Women Are L3sbians – Actress Uju Mandy Recounts Experience
News
News

85% Of Nigerian Women Are L3sbians – Actress Uju Mandy Recounts Experience

Webby - September 23, 2022

Nollywood actress Uju Mandy has stated that most Nigerian women practice l3sbianism. The actress made the disclosure via the comment…

Leave a Comment

Your email address will not be published.