EMBRACE TECHNOLOGY TO SOLVE UNCLAIMED DIVIDEND ISSUES IN NIGERIAN CAPITAL MARKET, SEC URGES REGISTRARS
The Securities and Exchange Commission (SEC) has called on companies’ registrars to embrace technology as a means of addressing the issue of unclaimed dividends in the capital market. Acting Director General of the SEC, Dr. Emomotimi Agama, emphasized this during a meeting with the executives of the Institute of Capital Market Registrars in Abuja. Agama stated that unclaimed dividends are a significant issue that must be resolved promptly, advocating for the use of technology as a solution. He urged registrars to collaborate and develop practical steps to eliminate unclaimed dividends.
Agama also mentioned that the SEC will soon issue a framework to guide the capital market in the proposed recapitalization exercise by banks. He noted that the SEC is actively addressing the recapitalization process and will soon provide guidelines for the market. Additionally, the Commission plans to interact with various segments of the capital market to resolve pending issues for the benefit of the market. Agama expressed appreciation for the government's support and emphasized the importance of the capital market to the administration of President Bola Tinubu. He assured that the SEC will continue to work diligently and seek cooperation to address major challenges.
The Acting Executive Commissioner Operations SEC, Mr. Bola Ajomale, also stressed the importance of embracing technology to ensure efficiency and system integrity. He encouraged registrars to adopt technological solutions to enhance their operations and keep up with industry advancements.
In his remarks, President of the Institute of Capital Market Registrars (ICMR), Mr. Seyi Owoturo, congratulated the new SEC management on their appointment and pledged the registrars’ commitment to the capital market. Owoturo highlighted the need for registrars to scrutinize transactions to ensure market safety and noted the increasing demands on their capacity with the upcoming banking recapitalization. He emphasized the necessity for registrars to adopt technology to meet these demands effectively.
The Securities and Exchange Commission (SEC) has called on companies’ registrars to embrace technology as a means of addressing the issue of unclaimed dividends in the capital market. Acting Director General of the SEC, Dr. Emomotimi Agama, emphasized this during a meeting with the executives of the Institute of Capital Market Registrars in Abuja. Agama stated that unclaimed dividends are a significant issue that must be resolved promptly, advocating for the use of technology as a solution. He urged registrars to collaborate and develop practical steps to eliminate unclaimed dividends.
Agama also mentioned that the SEC will soon issue a framework to guide the capital market in the proposed recapitalization exercise by banks. He noted that the SEC is actively addressing the recapitalization process and will soon provide guidelines for the market. Additionally, the Commission plans to interact with various segments of the capital market to resolve pending issues for the benefit of the market. Agama expressed appreciation for the government's support and emphasized the importance of the capital market to the administration of President Bola Tinubu. He assured that the SEC will continue to work diligently and seek cooperation to address major challenges.
The Acting Executive Commissioner Operations SEC, Mr. Bola Ajomale, also stressed the importance of embracing technology to ensure efficiency and system integrity. He encouraged registrars to adopt technological solutions to enhance their operations and keep up with industry advancements.
In his remarks, President of the Institute of Capital Market Registrars (ICMR), Mr. Seyi Owoturo, congratulated the new SEC management on their appointment and pledged the registrars’ commitment to the capital market. Owoturo highlighted the need for registrars to scrutinize transactions to ensure market safety and noted the increasing demands on their capacity with the upcoming banking recapitalization. He emphasized the necessity for registrars to adopt technology to meet these demands effectively.