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Dayo Obisan, govt commissioner answerable for operations at Securities Alternate Fee (SEC) has mentioned that unclaimed dividend in Nigeria stands at N190 billion.
He mentioned this on Friday on the put up Capital Market Committee (CMC) press briefing. The SEC and Capital Market neighborhood held the CMC assembly on August 24, adopted by press briefing on August 25.
Lamido Yuguda, director normal, SEC additionally talked about a number of the reforms the fee is presently present process.
“What we’re presently doing within the Capital Market are reforms on custody, derivatives, buying and selling, commodities alternate, in-house reforms (regulators) making them extra environment friendly and expertise pleasant, crowdfunding, and international advisors,” he mentioned.
Learn additionally: Explainer: Steps for shareholder to get unclaimed dividends
Yuguda mentioned that unclaimed dividends are a really major problem due to a number of points like identification points, and a number of subscriptions, and in addition as a result of quite a lot of corporations have modified their title.
“We are actually tightening our Know Your Clients (KYC) necessities so that every one data wanted shall be absolutely captured and these unclaimed dividends shall be a factor of the previous,” he mentioned.
Learn additionally: Academy press proposes 10kobo last dividend
The SEC DG famous that he sees no issues with corporations itemizing greenback bonds.
“I don’t see any downside with greenback bonds, any bond needs to be an obligation that’s backed by the duty to pay the bond. What issues is that the issuer of the bond is ready to pay each principal and curiosity on the bond,” he mentioned.
Learn additionally: Credite capitals shareholders get N30m dividend
The DG spoke of the fee’s intentions to proceed to supply merchandise which might be appropriate to traders and has therefore revised the Capital Market grasp plan.
“The capital market has a ten-year grasp plan from 2015-2025, We did a midterm evaluate of the plan to revise the plan, and it has helped us obtain quite a bit and we proceed to see these achievements in 2023,” he mentioned.
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