{"id":75557,"date":"2023-09-02T22:10:13","date_gmt":"2023-09-02T21:10:13","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=75557"},"modified":"2023-09-02T22:10:13","modified_gmt":"2023-09-02T21:10:13","slug":"financial-literacy-awareness-can-help-reduce-unclaimed-dividends-ngx","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/financial-literacy-awareness-can-help-reduce-unclaimed-dividends-ngx\/","title":{"rendered":"Financial Literacy, Awareness, Can Help Reduce Unclaimed Dividends \u2013 NGX"},"content":{"rendered":"
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Nigerian Exchange Limited (NGX) has said that a mix of financial literacy and awareness can help to reduce the growing number of unclaimed dividend in the capital market.<\/p>\n

This is coming after\u00a0efforts by the Securities and Exchange Commission (SEC)\u00a0to tackle rising unclaimed dividends in the nation\u2019s capital market have continued to hit a brick wall. According to the commission,\u00a0unclaimed dividends in the Nigerian capital market had risen to N190 billion from N180 billion recorded in 2021.<\/p>\n

Reacting to this development at a recent retail investors webinar themed;\u00a0How to Process Outstanding Dividend\u2019, the Divisional Head, Capital Markets, NGX, Jude Chiemeka, noted that some retail investors are unaware of the backlog of unclaimed dividends that have accrued to them over many years,\u00a0especially those investors with legacy investment held on their behalf.<\/p>\n

Whilst adding that the webinar- held in collaboration with Futureview Asset Management Limited, is aimed at providing procedures to investors, especially the retail segment on how to process outstanding dividends and retrieve unclaimed dividends, Chiemeka said a mix of financial literacy and aggressive awareness can help to reduce unclaimed dividends in the market.<\/p>

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He also added that the Exchange remains\u00a0committed to utilising technology to optimise intermediaries and increase access to the market for retail investors. He said, \u201cTo this end, we have established a digital gateway to democratise access to the market, reduce friction and drive retail participation in the capital market.\u201d<\/p>\n

Chiemeka\u00a0assured that the SEC would continue to work assiduously with stakeholders to reduce the cases of unclaimed dividends in the market to the barest minimum.<\/p>\n

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