By Dipo Olowookere
Director General of the Securities and Exchange Commission (SEC), Mr Mounir Gwarzo, has disclosed that the e-dividend payment system introduced by the agency has recorded a moderate progress.
Mr Gwarzo told journalists in Lagos on Wednesday that about 2.2 million investors in the capital market registered for the e-dividend payment system.
Speaking after the first Capital Market Committee (CMC) meeting for 2017, the SEC boss stated that the system has drastically reduced the growth of unclaimed dividend.
According to him, “At the beginning, compliance was very low but with the committed efforts of market stakeholders in collaboration with the Central Bank of Nigeria (CBN) and the Nigeria Inter-Bank Settlement System (NIBSS), we have been able to get 2.2 million Nigerians to register for the system.”
He revealed that the target is 7 million. “Our intention is to have about 7 million Nigerians and that’s why we have not relented on our awareness campaign,” he said.
