Thursday, July 30, 2015/ 11.04am / The Nigerian Investor, firstname.lastname@example.org
The Securities and Exchange Commission on 29th July, 2015 achieved a milestone in the Nigerian Capital Market with the launching of a new e-dividend mandate management system which will enable investors complete their bank mandate with company registrars with ease and less stress.
The issue of reducing the quantum of unclaimed dividend in the system has continually generates argument among market stakeholders over the years and thus caused the leadership of SEC and other concerned parties to put on their thinking caps in order to come with lasting resolution.
The Nigerian Inter-Bank Settlement System (NIBSS) which is at the heart of the new initiative is of the view that it will achieve the goals of ameliorating current hardships being faced by investors on e-Dividend and also facilitate faster processing of investor mandates.
With the new system, investors are expected to now complete their e-dividend bank mandate either through Registrars Outlets and/or Bank Branches and whichever one the investor decides to visit, the completed form will be processed provided its completed correctly and will be passed on to the Registrars to process the investor for e-dividend.
With this initiative among other issues such as the review of transaction cost in the market, smart trading system and the re-capitalization of CMOs, it is believed that investors are in for a good time to engage the market and as well help position the market among the best in the globe.
The Market from the Investors Perspective
In this edition of #TheNigerianInvestor, we conduct our regular market round-up of innovations, activities, developments, AGM’s, market news, corporate actions, company appointments, announcements as well as updates from market regulators.