E-div­i­dend reg­is­tra­tion will boost liq­uid­ity - SEC

Daily Trust - - BUSINESS - By Chris Agabi

The Se­cu­ri­ties and Ex­change Com­mis­sion (SEC) has called on more Nige­ri­ans to take ad­van­tage of the on­go­ing e-div­i­dend reg­is­tra­tion in a bid to re­duce the un­claimed div­i­dends pro­file, as well as in­crease liq­uid­ity in the cap­i­tal mar­ket and the econ­omy.

Act­ing Di­rec­tor Gen­eral of SEC, Mary Uduk, said this at an en­light­en­ment pro­gramme on e-div­i­dend and con­tem­po­rary is­sues in the Nige­rian Cap­i­tal Mar­ket held in Enugu, a state­ment from SEC con­firmed.

The event, which had the theme: “Cur­rent Ini­tia­tives by the Se­cu­ri­ties and Ex­change Com­mis­sion Nige­ria to En­hance In­vestor Value”, drew par­tic­i­pants from var­i­ous seg­ments of the so­ci­ety.

Rep­re­sented by the Head, Port Har­court Zonal Of­fice of SEC, Mr. Obi Adindu, Uduk dis­closed that the com­mis­sion was cur­rently lead­ing the en­tire cap­i­tal mar­ket in­dus­try in an ef­fort to mi­grate all share­hold­ers to an e-div­i­dend regime.

She said, “The essence of the e-div­i­dend Man­date Man­age­ment Sys­tem is to erad­i­cate or re­duce to the barest min­i­mum the in­ci­dences of un­claimed div­i­dends. Un­claimed div­i­dend is an un­de­sir­able fea­ture of the Nige­rian cap­i­tal mar­ket which de­nies in­vestors/ share­hold­ers the gains of par­tic­i­pat­ing in the cap­i­tal mar­ket. It de­nies the econ­omy ac­cess to the huge amount of money which should have ac­crued to share­hold­ers and would have gone into cir­cu­la­tion to oil the wheel of the econ­omy.”

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