SEC Storms Lagos on E-Dividend Registration Sensitization

The Securities & Exchange Commission (SEC) in a move to fortify the ongoing efforts towards enlightening the investing public with a special focus on retail investors hit the streets of Lagos with another round of sensitization on e-Dividend Registration which is currently on-going in the country.

The team led by the Director General visited Oba Rilwan Akiolu, Oba of Lagos, who commended the Commission on the on-going e-Dividend registration even as he urged Nigerians to take advantage of the exercise to ensure that they receive returns on their investments in the capital Market.

Speaking earlier, Mounir Gwarzo, director general of SEC, informed the Oba that the purpose of the visit was to receive Royal blessing on the e-Dividend registration campaign and to solicit his support on the exercise.

He said the essence of the campaign is to enlighten Nigerians on the need to register electronically so that when dividends are declared by the various companies such can be transferred directly to the bank accounts of the shareholders.

The Lagos events culminated in a Town Hall where investors had the opportunity to interact with top management and staff of the Commission.

At a Post event press briefing, the DG announced that for the first time in the history of any capital market in Africa, investors in the Nigerian Capital market are now to get dividend payment within 24 hours through the e-Dividend Payment Platform.

According to him, the proposed system will automatically allow dividends to be credited directly into shareholders’ accounts within 24 hours of payment by the company.