NGX INVEST REDEFINES DIVIDEND DISTRIBUTION EFFICIENCY
Overview:
The Nigerian Exchange Group (NGX Group) has launched NGX Invest, a cutting-edge online platform designed to enhance the efficiency of dividend distribution and subscription for public offerings and rights in the Nigerian capital market.
Key Features:
1. Streamlined Dividend Distribution:
- NGX Invest introduces an e-dividend system to address the issue of unclaimed dividends, moving away from traditional paper-based methods.
- Investors can select their preferred accounts for dividend payments, and real-time identity verification via NIBSS ensures smooth data transfer to registrars.
2. Integration with BVN System:
- The platform’s integration with the Bank Verification Number (BVN) system allows for the aggregation and consolidation of dividend payments from multiple shares associated with a single BVN.
- This feature aims to improve efficiency in managing dividend distributions.
Impact and Future Prospects:
- NGX Invest is expected to significantly enhance investor convenience by reducing follow-up work and improving overall efficiency in Nigeria’s capital market.
- As NGX Invest evolves, it will play a crucial role in modernizing and streamlining investment processes, benefiting stakeholders throughout the public offerings value chain.
Overview:
The Nigerian Exchange Group (NGX Group) has launched NGX Invest, a cutting-edge online platform designed to enhance the efficiency of dividend distribution and subscription for public offerings and rights in the Nigerian capital market.
Key Features:
1. Streamlined Dividend Distribution:
- NGX Invest introduces an e-dividend system to address the issue of unclaimed dividends, moving away from traditional paper-based methods.
- Investors can select their preferred accounts for dividend payments, and real-time identity verification via NIBSS ensures smooth data transfer to registrars.
2. Integration with BVN System:
- The platform’s integration with the Bank Verification Number (BVN) system allows for the aggregation and consolidation of dividend payments from multiple shares associated with a single BVN.
- This feature aims to improve efficiency in managing dividend distributions.
Impact and Future Prospects:
- NGX Invest is expected to significantly enhance investor convenience by reducing follow-up work and improving overall efficiency in Nigeria’s capital market.
- As NGX Invest evolves, it will play a crucial role in modernizing and streamlining investment processes, benefiting stakeholders throughout the public offerings value chain.