Unclaimed Dividends: SEC Orders Cardinalstone to Process Payment of Defunct Skye Bank Shareholders

By Dipo Olowookere

Shareholders of the defunct Skye Bank Plc, now operating as Polaris Bank, have been asked to get in touch with Cardinalstone Registrars process their unclaimed dividends.

In a statement on Friday, the Securities and Exchange Commission (SEC) assured that the funds for the payment were still intact.

In 2018, the Central Bank of Nigeria (CBN) revoked the operating licence of Skye Bank as a result of poor management of the company.

In yesterday’s statement, SEC said it has given directives to both Cardinalstone Registrars and STL Trustees to process all genuine claims of beneficiary shareholders

“The Securities and Exchange Commission wishes to inform shareholders of the defunct Skye Bank Plc that unclaimed dividends declared by the bank are being held in trust on their behalf.

“Investors that have unclaimed dividends are therefore advised to contact Cardinalstone Registrars to process their dividend payments.

“The Commission has also directed Cardinalstone Registrars and STL Trustees to ensure that all genuine claims of beneficiary shareholders be addressed forthwith,” the statement said.