Nigeria SEC takes e-Dividend campaign to South East

The Securities and Exchange Commission (SEC) south east zonal office is to commence a sensitisation programme on the process and benefits of e-Dividend, multiple subscription, e-processes and other contemporary issues in the Nigerian capital market. The programme will take the form of town hall meetings with stakeholders and the general public

The SEC said the event themed: “Current Initiatives by the Securities and Exchange Commission, SEC Nigeria to Enhance Investor Value”, is expected to draw participants from various segments of the society.

The meeting is scheduled for Thursday December 6, 2018, while registration of participants starts by 9:00am and the main event starts at 10:00am.

“The event will create an avenue for the apex capital market regulator to educate and enlighten the public on the above subject and also for operators, stakeholders and various investors to interact and discuss other issues surrounding the activities of the capital market,” SEC said in a statement made available on Sunday.

SEC in January 2015 commenced the e-dividend registration campaign in Abuja with a Road Show culminating in a Town Hall Meeting.

The event will also provide an opportunity to throw more highlights on investment opportunities available in Nigerian Capital market and how retail investors can benefit therein.

The Commission had announced that the e-dividend registration would continue seamlessly in spite of the expiration of free registration deadline and also enjoined investors yet to enroll, to continue with the registration at a cost of N150 only.

“Investors should continue to approach their banks or registrars, as usual, to seamlessly mandate their bank accounts for the collection of their dividends electronically, including unclaimed dividends, not exceeding 12 years of issue; as the N150 would not be demanded from them at the point of registration.”

Also, the Commission recently extended the forbearance period for regularisation of multiple share subscription to another one year after the expiration on 31st December 2018.

Mary Uduk, the acting director general of the Commission, disclosed this in her address at the 3rd and final Capital Market Committee(CMC) meeting held for the year 2018 in Lagos.

“I am delighted to report that on the lingering issue of multiple subscriptions and forbearance for shareholders with multiple accounts, the CMC agreed that the forbearance window should be extended by another year from the December 31,2018 deadline previously communicated”, she said.

The SEC boss called on investors to take advantage of this opportunity to claim their unclaimed dividends and bonuses before the expiration of forbearance period.