SEC DG urges collaboration to tackle unclaimed dividends

Acting Director General of the Securities and Exchange Commission Dr. Emomotimi Agama has charged relevant stakeholders in the capital market to co-operate with the Commission in its desire to reduce the quantum of unclaimed dividends.

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.

Dr. Agama assured that every unresolved issue ranging from unclaimed dividends, which is 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 the Association to forward a practical proposal on how they are going to deal with the current level of unclaimed dividends. 

According to him, “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 said, “Unclaimed dividends is a monster that we must deal with now. Whatever it will take to deal with it, we must do it. We must embrace technology as one of the ways to deal with it.

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 indeed a renewed hope for the Nigerian Capital Market and the economy.