The Securities and Exchange Commission has said that it has started moves to reduce unclaimed dividends with the current value of N190bn. SEC disclosed this after a three-day investor clinic it held in Yobe State to address complaints from investors in the region.
According to Danladi Mohammed, Head of the SEC Zonal Office in Kano, the investor clinic was jointly organised by the Securities and Exchange Commission and the Gombe State Investment & Property Development Company to proffer solutions to investors with unclaimed dividends and related matters.
The three-day exercise was aimed at creating awareness and enlightenment on e-dividend, dematerialisation of share certificates, and a direct cash settlement payment system, among other initiatives, and handling inquiries and complaints from shareholders for the people of Yobe State and its environs.
“The initiative is one in a series of programmes and strategies towards reducing the level of unclaimed dividends, which stood at N190bn in August 2023, by creating awareness, particularly in the regions, to make the investing public come forward to take what rightfully belongs to them.