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SEC Urged to Streamline Record-Keeping to Tackle N215bn Unclaimed Dividends
Key Highlights:
1. Call for Better Record-Keeping:
Shareholders have appealed to the Securities and Exchange Commission (SEC) to improve record-keeping processes to ease the retrieval of unclaimed dividends...
SECURITIES AND EXCHANGE COMMISSION (SEC) UNCOVERS EFFORTS TO TACKLE UNCLAIMED DIVIDENDS
Key Issue: Unclaimed Dividends
- Total Unclaimed Dividends: The unclaimed dividends currently stand at N215 billion.
- Commitment: The Securities and Exchange Commission (SEC) is committed to resolving the...
UNCOVER UNCLAIMED DIVIDEND OWNERS, SENATE TELLS SEC
1. Senate Committee and SEC Collaboration:
- Public Hearing: The Senate Committee on Capital Market, alongside the Security and Exchange Commission (SEC) and other stakeholders, held a public hearing on July 30, 2024.
- Objective: The...
The Securities and Exchange Commission (SEC) has launched a revamped e-Dividend Mandate Management System (e-DMMS) portal aimed at reducing unclaimed dividends, which currently amount to N190 billion. The new system introduces a "self-service interface," enabling investors to mandate their...
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