THE Securities and Exchange Commission, SEC, yesterday, expressed that more than N30billion has so far been paid to financial specialists in the Nigerian capital market from the overabundance of unclaimed profits worth over N80 billion.
As a way to additionally diminish the exceptional sums in unclaimed profits and check its development, the Commission has advised investors that it will keep on underwriting the cost of e-profit enlistment till June 30, 2017.
In an announcement, yesterday, SEC stated: “With a view to ensuring all investors benefit from the e-dividend programme free of charge, the SEC had committed to pay the cost of enrolment throughout the year 2016, and had resulted in getting about 48 per cent of investors to enroll for the e-dividend payments. Arising from this exercise, over N30 billion which was hitherto unclaimed have so far been credited to respective bank accounts of investors.”
The SEC’s Director General, Mounir Gwarzo, said that endeavors to guarantee that the period of stale profits and enormous unclaimed profits in money markets turn into a relic of times gone by was at that point accomplishing result with the e-profit enlistment framework.
He stated, “when we began the e-profit, the real test was for individuals to enter into the e profit command. There are profits that have not been guaranteed, the enlistment centers have been constrained to pay all the overdue debts of unclaimed profits.
Nigerian Securities and Exchange Commission supervisor, Mr. Mounir Gwarzo
In this way, the benefit of the e-profit is not exclusively to empower financial specialists to gather ensuing profits electronically however it permits every collected profit be credited to speculators’ Bank Accounts.
“The Commission has, in any case, saw with concern the difficulties being experienced by speculators over the span of the e-profit enrollment and accordingly resolves to additionally settle the cost of enlistment till June 30, 2017 to empower financial specialists keep on enjoying the free enrollment.”
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