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Lagos Civil Servants Urged to Embrace E-dividend

The Head of Service of Lagos State, Mrs. Folasade Adesoye has urged civil servants in the state to take advantage of the Securities and Exchange Commission’s electronic-dividend campaign to register for their dividend payments.

Adesoye made the call in Lagos at a one-day sensitisation workshop held at Alausa, Ikeja. Represented by the Permanent Secretary, Office of the Head of Service, Mrs. Fiyinfoluwa Ogunbanke, the Head of Service, commended the SEC on its efforts at ensuring that the era of non receipt of benefits of their investments becomes a thing of the past.

According to Adesoye, the introduction of the e-Dividend presents an opportunity for civil servants to tap into the initiative in order to enjoy the benefits of their investments in the capital market.

“This event is meant to educate and enlighten public servants on the operation of the E-dividend Mandate Management System and how investments in the capital market will give public servants opportunity to earn additional income. I am happy with this initiative by the SEC and I believe that this will assist civil servants in Lagos State to claim their outstanding dividends and also receive their dividends electronically in the future,” she added.

In her remarks, the Permanent Secretary Ministry of Finance in Lagos State, Mrs. Olufunlola Balogun told the civil servants that investing a reasonable portion of their saved income or earnings in the capital market will make it possible for them to earn additional income and improve their standard of living.

“For those who have invested in the capital market and have accumulated unclaimed dividends, it will give you an opportunity to understand how to receive the unclaimed dividend as well as future dividends,” she stated.

Also speaking at the event, the Acting Director General of SEC, Dr. Abdul Zubair, enjoined the workers to take advantage of the free registration period, which ends on December 31, 2017, to enrol.

Represented by the Director, External Relations of SEC, Henry Rowlands, the acting DG told the workers that once they register, they would start receiving all their unclaimed dividends through their bank accounts and future dividends, would, in like manner, be paid directly to them as well.

Zubair said the e-dividend registration is one of the initiatives by the commission to restore investors’ confidence as well as attract retail investors back to the capital market.

While enjoining workers to key into the initiative, he explained that “the advantage of the e-dividend is not only to enable investors collect subsequent dividends electronically, but will also allow all accrued dividends to be credited to investors bank accounts.”