A cutting-edge solution to the problem of unclaimed dividends in Nigeria

The problem In an earlier blog post, I wrote about the alarming value of unclaimed dividends in the country which was put at an estimated N60 billion naira (about US$360 million). (Please see Much ado about unclaimed dividends) The Securities & Exchange Commission (SEC) has been in search for effective ways to reduce the value … More A cutting-edge solution to the problem of unclaimed dividends in Nigeria

Much ado about unclaimed dividends

Introduction Recently, the Securities and Exchange Commission (SEC) put the figure of unclaimed dividends in the country at an alarming N60bn[i]. The news has since generated considerable reaction from stakeholders including regulatory authorities and shareholders’ associations. Various reasons have been adduced for the steady increase of unclaimed dividends in the country.