{"id":28200,"date":"2018-11-15T15:34:52","date_gmt":"2018-11-15T14:34:52","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=28200"},"modified":"2018-11-15T15:38:13","modified_gmt":"2018-11-15T14:38:13","slug":"sec-seeks-more-investors-patronage-of-e-dividend-scheme","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/sec-seeks-more-investors-patronage-of-e-dividend-scheme\/","title":{"rendered":"SEC Seeks More Investors Patronage Of E-Dividend Scheme"},"content":{"rendered":"

The Securities and Exchange Commission (SEC) has reiterated the need for investors to embrace the e-dividend platform as this will help reduce the huge unclaimed dividend portfolio in the domestic market.<\/p>\n

The Commission said the benefit of e-dividend is enormous, as it will help reduce the unclaimed dividend in the equities market as well as make investors to have more money in their pulse.<\/p>\n

Acting Director General of SEC, Ms. Mary Uduk who made this remarks on Thursday while addressing the press and the capital market community after the Commissions two-day Capital Market Committee meeting in Lagos, noting that the current figure of investors who have so far embraced the e-dividend platform stands at 2.5 million.<\/p>\n

\u201cWe expect investors to take advantage of this opportunity to claim their unclaimed dividends and bonuses.<\/p>\n

To this end, she disclosed that the forbearance window for multiple subscriptions and forbearance for shareholders has been extended by another year from December 31, 2018 deadline previously slated for its closure.<\/p>\n

The e-dividend is an electronic dividend payment, which will enable an investor\u2019s account to be credited after 24 hours that dividend is paid.<\/p>\n

Other major nightlights of the CMC meetings includes: \u201cThe omission\u00a0announced a two-pronged approach to addressing the intractable challenges associated with transmission of shares related to the estate of deceased investors. The first step would involve engagement with and enlightenment of\u00a0the Probate Registry\u00a0with a view to providing\u00a0solutions to the cumbersome process of transmitting shares.\u00a0Secondly, Rules would be developed around the time frame for transmission shares and the fee structure.<\/p>\n

\u201cIn order to boost the e-dividend mandate and Direct Cash Settlement initiatives, the Commission gave a\u00a0commitment to the market\u00a0that it would\u00a0engage NIBSS\u00a0(Nigeria Inter-Bank Settlement System)\u00a0on behalf of the capital\u00a0market community to facilitate identity validation and\u00a0account validation in an effort to enhance\u00a0market processes.<\/p>\n

\u201cThe Commission will also work with other major stakeholders in setting up a committee that will look into and proffer solutions to\u00a0problems around identity management in the Nigerian capital market.<\/p>\n

\u201cThe Commission is also\u00a0collaborating with the CBN to update regulations on margin lending.\u00a0We understand the expectations of the\u00a0market\u00a0on these issues\u00a0and\u00a0our deliberations\u00a0would address\u00a0them appropriately.<\/p>\n

\u201cIn furtherance of the commitment to develop a vibrant\u00a0Commodities eco-system,\u00a0the Commission has commenced the implementation of measures to strengthen regulatory capacity\u00a0by establishing a Commodities Division. Other recommendations of the Committee have been broken down into implementable plans with set timelines.<\/p>\n

\u201cAn interesting development in the commodities sector is the innovative solution developed by\u00a0AFEX Commodities Exchange Limited (AFEX) and its\u00a0partners\u00a0regarding the use\u00a0of\u00a0Blockchain Technology to streamline the process of financing agriculture to Smallholder farmers and other players in the commodities markets.<\/p>\n

\u201cWe formally inaugurated the Fintech Roadmap Committee, Chaired by Ade Bajomo. The Committee is expected to develop a Fintech roadmap for the capital market\u00a0within the next three months.<\/p>\n

\u201cYou may recall that\u00a0at the first CMC press briefing, we reported that the Commission was working with National Educational Research and Development Council (NERDC) to institute a stand-alone capital market curriculum for basic and senior secondary education in Nigeria. This collaboration has reached an advanced stage, as the Planning and Writing Workshop took place during the week.\u00a0The respective\u00a0Trade Groups\u00a0resolved\u00a0to\u00a0honour their commitments\u00a0towards funding the\u00a0initiative.<\/p>

\r\n
Advertisement<\/div>\r\n\t\t\t\t\t\t\t<\/a>\r\n \r\n\t\t\t\t\t\t\t<\/div>\n

\u201cThe Financial Literacy Committee,\u00a0has developed\u00a0a webpage dedicated to\u00a0providing relevant financial literacy material on the capital market and\u00a0the\u00a0financial sector for investors. A link has been created on the\u00a0Commission\u2019s\u00a0website.<\/p>\n

\u201cThe market provided\u00a0an update on the Electronic distribution of annual accounts by public companies to shareholders.\u00a0It was reported that the shareholders have largely accepted the new initiative\u00a0and are willingly\u00a0providing their email addresses. It was agreed that further sensitization would be carried out by stakeholders\u00a0to\u00a0enlighten shareholders on the benefits of the initiative.<\/p>\n

\u201cOn the need to grow the market for trading in securities on unlisted public companies, the Commission\u00a0is making concerted efforts in collaboration with CAC and other stakeholders to assist public\u00a0companies\u00a0that are yet to\u00a0register\u00a0their securities to do so\u00a0without much difficulty.<\/p>\n

\u201cSimilarly, in order\u00a0to\u00a0enhance investors\u2019 confidence in the market,\u00a0the Commission is stepping up efforts to ensure\u00a0that\u00a0public unlisted companies provide quarterly and annual performance reports. This would assist investors to make more informed investment decisions.<\/p>\n

\u201cAs part of efforts to eliminate underhand dealings, the Commission is set to take enforcement actions against any persons engaged in trading in the shares of public unlisted companies outside a recognised securities exchange as provided by the Rules.<\/p>\n

\u201cWith respect to the registration of Trade Groups, currently 6 TG have registered with the Commission while those\u00a0yet to do so\u00a0were urged to comply with the directive.\u00a0This is an important development as it would facilitate implementation of the complaints management framework amongst other benefits.\u00a0In the same vein, CMOs were enjoined to register with their respective trade groups.<\/p>\n

\u201cThe Committee on Minimum Operating Standards has also submitted its final report and a\u00a0timeframe\u00a0for\u00a0implementation\u00a0of\u00a0the standards\u00a0would be announced soon.<\/p>\n

\u201cThe Commission announced that it was awaiting the final report of the e-IPO Committee in order to issue guidelines and develop the rules for e-IPOs. In this regard, the Committee is expected to submit its report in two weeks\u201d, it added.<\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

The Securities and Exchange Commission (SEC) has reiterated the need for investors to embrace the e-dividend platform as this will help reduce the huge unclaimed dividend portfolio in the domestic market. The Commission said the benefit of e-dividend is enormous, as it will help reduce the unclaimed dividend in the equities market as well as …<\/p>\n","protected":false},"author":6,"featured_media":28201,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,1593,17],"tags":[4111,575],"coauthors":[2391],"class_list":["post-28200","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-metro","category-news","tag-mary-uduk","tag-sec"],"yoast_head":"\nSEC Seeks More Investors Patronage Of E-Dividend Scheme - National Wire<\/title>\n<meta name=\"description\" content=\"The Securities and Exchange Commission (SEC) has reiterated the need for investors to embrace the e-dividend platform as this will help reduce the\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/sec-seeks-more-investors-patronage-of-e-dividend-scheme\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SEC Seeks More Investors Patronage Of E-Dividend Scheme - National Wire\" \/>\n<meta property=\"og:description\" content=\"The Securities and Exchange Commission (SEC) has reiterated the need for investors to embrace the e-dividend platform as this will help reduce the\" \/>\n<meta property=\"og:url\" content=\"https:\/\/nationalwire.com.ng\/sub\/sec-seeks-more-investors-patronage-of-e-dividend-scheme\/\" \/>\n<meta property=\"og:site_name\" content=\"National Wire\" \/>\n<meta property=\"article:published_time\" content=\"2018-11-15T14:34:52+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2018-11-15T14:38:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2018\/11\/1571595826001_5773860026001_5773853009001-vs.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"576\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Friday Ekeoba\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#website\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/\",\"name\":\"National Wire\",\"description\":\"About Nigerians, Nigerian Business and Other Stories\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/nationalwire.com.ng\/sub\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/sec-seeks-more-investors-patronage-of-e-dividend-scheme\/#primaryimage\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2018\/11\/1571595826001_5773860026001_5773853009001-vs.jpg\",\"contentUrl\":\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2018\/11\/1571595826001_5773860026001_5773853009001-vs.jpg\",\"width\":1024,\"height\":576},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/sec-seeks-more-investors-patronage-of-e-dividend-scheme\/#webpage\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/sec-seeks-more-investors-patronage-of-e-dividend-scheme\/\",\"name\":\"SEC Seeks More Investors Patronage Of E-Dividend Scheme - National Wire\",\"isPartOf\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/sec-seeks-more-investors-patronage-of-e-dividend-scheme\/#primaryimage\"},\"datePublished\":\"2018-11-15T14:34:52+00:00\",\"dateModified\":\"2018-11-15T14:38:13+00:00\",\"author\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/e2ab303e561d755b325fc9cea3854927\"},\"description\":\"The Securities and Exchange Commission (SEC) has reiterated the need for investors to embrace the e-dividend platform as this will help reduce the\",\"breadcrumb\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/sec-seeks-more-investors-patronage-of-e-dividend-scheme\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/nationalwire.com.ng\/sub\/sec-seeks-more-investors-patronage-of-e-dividend-scheme\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/sec-seeks-more-investors-patronage-of-e-dividend-scheme\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/nationalwire.com.ng\/sub\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"SEC Seeks More Investors Patronage Of E-Dividend Scheme\"}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/e2ab303e561d755b325fc9cea3854927\",\"name\":\"Friday Ekeoba\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/author\/friday\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"SEC Seeks More Investors Patronage Of E-Dividend Scheme - National Wire","description":"The Securities and Exchange Commission (SEC) has reiterated the need for investors to embrace the e-dividend platform as this will help reduce the","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/nationalwire.com.ng\/sub\/sec-seeks-more-investors-patronage-of-e-dividend-scheme\/","og_locale":"en_US","og_type":"article","og_title":"SEC Seeks More Investors Patronage Of E-Dividend Scheme - National Wire","og_description":"The Securities and Exchange Commission (SEC) has reiterated the need for investors to embrace the e-dividend platform as this will help reduce the","og_url":"https:\/\/nationalwire.com.ng\/sub\/sec-seeks-more-investors-patronage-of-e-dividend-scheme\/","og_site_name":"National Wire","article_published_time":"2018-11-15T14:34:52+00:00","article_modified_time":"2018-11-15T14:38:13+00:00","og_image":[{"width":1024,"height":576,"url":"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2018\/11\/1571595826001_5773860026001_5773853009001-vs.jpg","type":"image\/jpeg"}],"twitter_card":"summary_large_image","twitter_misc":{"Written by":"Friday Ekeoba","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebSite","@id":"https:\/\/nationalwire.com.ng\/sub\/#website","url":"https:\/\/nationalwire.com.ng\/sub\/","name":"National Wire","description":"About Nigerians, Nigerian Business and Other Stories","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/nationalwire.com.ng\/sub\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/nationalwire.com.ng\/sub\/sec-seeks-more-investors-patronage-of-e-dividend-scheme\/#primaryimage","url":"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2018\/11\/1571595826001_5773860026001_5773853009001-vs.jpg","contentUrl":"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2018\/11\/1571595826001_5773860026001_5773853009001-vs.jpg","width":1024,"height":576},{"@type":"WebPage","@id":"https:\/\/nationalwire.com.ng\/sub\/sec-seeks-more-investors-patronage-of-e-dividend-scheme\/#webpage","url":"https:\/\/nationalwire.com.ng\/sub\/sec-seeks-more-investors-patronage-of-e-dividend-scheme\/","name":"SEC Seeks More Investors Patronage Of E-Dividend Scheme - National Wire","isPartOf":{"@id":"https:\/\/nationalwire.com.ng\/sub\/#website"},"primaryImageOfPage":{"@id":"https:\/\/nationalwire.com.ng\/sub\/sec-seeks-more-investors-patronage-of-e-dividend-scheme\/#primaryimage"},"datePublished":"2018-11-15T14:34:52+00:00","dateModified":"2018-11-15T14:38:13+00:00","author":{"@id":"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/e2ab303e561d755b325fc9cea3854927"},"description":"The Securities and Exchange Commission (SEC) has reiterated the need for investors to embrace the e-dividend platform as this will help reduce the","breadcrumb":{"@id":"https:\/\/nationalwire.com.ng\/sub\/sec-seeks-more-investors-patronage-of-e-dividend-scheme\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/nationalwire.com.ng\/sub\/sec-seeks-more-investors-patronage-of-e-dividend-scheme\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/nationalwire.com.ng\/sub\/sec-seeks-more-investors-patronage-of-e-dividend-scheme\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/nationalwire.com.ng\/sub\/"},{"@type":"ListItem","position":2,"name":"SEC Seeks More Investors Patronage Of E-Dividend Scheme"}]},{"@type":"Person","@id":"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/e2ab303e561d755b325fc9cea3854927","name":"Friday Ekeoba","url":"https:\/\/nationalwire.com.ng\/sub\/author\/friday\/"}]}},"_links":{"self":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts\/28200","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/comments?post=28200"}],"version-history":[{"count":3,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts\/28200\/revisions"}],"predecessor-version":[{"id":28204,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts\/28200\/revisions\/28204"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/media\/28201"}],"wp:attachment":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/media?parent=28200"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/categories?post=28200"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/tags?post=28200"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/coauthors?post=28200"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}