NIGERIA: SEC wants dividends paid into savings account

0 0
Spread the love
Read Time:46 Second

The Securities and Exchange Commission, SEC, yesterday, appealed to Governor of Central Bank of Nigeria, CBN, Mr. Godwin Emefiele, to mandate the banks to accept payment of dividend warrants into shareholders’ savings accounts.

Speaking at the end of the second quarter Capital Market Committee, CMC, meeting in Lagos, Director General of SEC, Ms. Arunma Oteh, said the move would help to resolve the rising spate of unclaimed dividends in the country, which is currently put at over N60 billion.

Although she said some banks had started accepting payment of dividend warrants into savings account, she added that mandating others to follow suit was critical in tackling the issue of unclaimed dividend.
She said: “We welcome the agenda of the new CBN governor; and we hope to continue to work together with CBN to ensure that we tackle issues that are of utmost importance to the growth of the capital market.”

Happy
Happy
0 %
Sad
Sad
0 %
Excited
Excited
0 %
Sleepy
Sleepy
0 %
Angry
Angry
0 %
Surprise
Surprise
0 %

Facebook Comments

Previous post NIGERIA: Nyako’s troubled times
Next post NIGERIA: Our quarrel with new cement policy —Labour

Average Rating

5 Star
0%
4 Star
0%
3 Star
0%
2 Star
0%
1 Star
0%

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: