Forbearance Window: SEC Vows to Address Issues Raised by Investors

May 17, 2018
sec capital market

By Modupe Gbadeyanka

Acting Director General of the Securities and Exchange Commission (SEC), Ms Mary Uduk, has assured investors that her agency will look into the challenges in regularising their multiple accounts.

Last month, the apex regulatory body of the Nigerian capital market announced an extension of the exercise till September 2018.

Ms Uduk, who was honoured by the West African Student Union Parliament (WASUP) for Exemplary Leadership in Abuja yesterday, said she was aware of the issues being raised by investors, but promised to look into them.

“Forbearance window for shareholders with multiple accounts has now been extended to September 2018.

“Registrars have acknowledged that investors have started coming forward but there are still some challenges in the process.

“We are working hard to address those challenges and that is why we encourage all affected investors to come forward and take advantage of the window before the new deadline,” she said on Wednesday.

Speaking further, Ms Uduk said SEC was also working tirelessly to ensure investors have confidence in the nation’s capital market.

According to her, the forbearance window, e-dividend registration, Direct Cash Settlement and others were part of the strategies the agency was implementing to achieve this goal.

She said the 10-year capital market master plan has policies that will position the market as a force to reckon with in Africa.

“The master plan will continue to be our working document and we shall continue to implement initiatives that will promote investors’ confidence such as e-dividend registration, Direct Cash Settlement, Dematerialisation, Complaint Management Framework, Financial Literacy and Investors’ Protection Fund, among others,” she said.

Modupe Gbadeyanka

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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