Dr. Emomotimi Agama, the director general of the Securities and Exchange Commission has said that unclaimed dividends are “monsters” in the capital market.
To this end, the SEC DG wants the Association of Securities Dealing Houses of Nigeria (ASHON) and other key stakeholders in the capital market to collaborate with the Commission in addressing the substantial issue of unclaimed dividends, which currently stands at a staggering N190 billion.
Agama said this during a meeting with ASHON held in Abuja, where he described the unclaimed dividends as a “monster” in the capital market that requires immediate and decisive action.
According to a statement from the Commission on Wednesday, he emphasized the need for swift measures to tackle this issue, alongside other market-related challenges.
The SEC boss, further emphasized that the Commission would address these challenges in the shortest time possible and invited ASHON to submit practical proposals on how to reduce the current level of unclaimed dividends.
He pledged to give his best efforts to eliminate all forms of infractions in the market, work towards broadening the market for the overall benefit of the economy, and achieve substantial success for Nigeria’s economic growth.
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