SEC Seeks Collaboration to Reduce Unclaimed Dividends

Ndubuisi Francis in Abuja 

Acting Director General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama has tasked relevant stakeholders to co-operate with the Commission in its quest to reduce the volume of unclaimed dividends in the capital market.

Agama, who stated this during a meeting with the Association of Securities Dealing Houses of Nigeria (ASHON) in Abuja, described unclaimed dividend as a monster in the capital market, which must be tackled swiftly.

He assured that every unresolved issue ranging from unclaimed dividends, which he described as the big elephant in the room, time to market and other related market issues will be addressed in the shortest time possible.

He assured the association that every good thought that they have had will be brought to fruition while inviting them to forward a practical proposal on how they are going to deal with the current level of unclaimed dividends. 

Agama stated: “We cannot continue to do a thing in a particular way and expect a different result. You need to strengthen the institutions under you and know who you are leaving behind to continue the legacy.”

He pledged the readiness of the SEC management to give their best and ensure that the market is rid of every form of infractions, work towards broadening the market for the greater good generally and achieve success in the Nigerian economy.

In his remarks, the Chairman of ASHON, Mr. Sam Onukwe applauded President Bola Ahmed Tinubu for appointing Dr. Emomotimi Agama as the Director General and the three Executive Commissioners, describing it as truly a renewed hope for the Nigerian capital market and the economy.

Onukwe expressed strong belief that Agama and his team will bring their outstanding wealth of experience to bear in the growth and development of the capital market and the advancement of the Nigerian economy as a whole.