Mr Lamido Yuguda, the Director-General of SEC, said this at the second post Capital Market Committee (CMC) media briefing in Abuja on Friday. He said the figure increased due to issues concerning identity management in the country.
Yuguda also attributed the rising figure to multiple subscriptions by investors during banking consolidation and identity management. According to him, “we have legacy issues that have aggravated unclaimed dividends.”
Yuguda, however, said the commission was working with the Nigeria Inter-Bank Settlement System (NIBSS), on the e-dividend portal. He added that the SEC was working with NIBSS to make changes to the electronic dividend portal currently going through some form of upgrading and repair.
