SEC Enlightenment Program For Lagos State Probate Registry

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Friday, May 03, 2019 / 07:00 PM / NASD Plc

 

The SEC ran a program for the Lagos State Probate registry it enlighten capital market stakeholders in the on issues of transmission of shares for estate accounts.  A key highlight of the program was to detail the vital role the Probate Registry plays in dealing with matters of probate and administration of estate.

The Lagos State Probate registry launched a portal in March 2019 which aims to ease the process of re-acquiring the assets of deceased shareholders.   Investors and estates can also verify if there is any pending litigation on probate/letters of administration on estate accounts.

The Lagos State portal (Probate.lagosjudiciary.gov.ng)  will also bring the following benefits to the Nigerian Capital Market includes:

  • Bona fide beneficiaries of estates now have seamless access to the assets of the deceased.
  • Reduced volume of outstanding unclaimed dividend
  • eliminate the risk of loss of assets, especially as it is related to the deceased shares.
  • Easier liquidity of investment portfolios.

NASD PLC commends this development and the continuing movement to a transparent and liquid capital market


Market Activities For Week 18

Market Summary
As at close of trade week on 03 May 2019, market Capitalisation decreased to 543.90 billion from last week's previous 546.15 billion, which shows a 0.41% decrease in Capitalisation. Also the USI for the week ending 03 May 2019 recorded a decrease from 760.19 points to 757.06 points.


Trade Summary

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Market in Numbers (Year-to-Date)

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Macro-economic Indicators 

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