The Security and Exchange Commission says investors in the
Nigerian Capital market are now to get dividend payment within 24 hours through
the e-Dividend Payment Platform, making it the first in the history of any
capital market in Africa.
Director General of Securities and Exchange Commission (SEC)
Mounir Gwarzo, who made the disclosure at the e-Dividend Sensitisation Town
Hall Meeting in Lagos, Thursday, said the proposed system will automatically
allow dividends to be credited directly into shareholders' accounts within 24
hours of payment by the company.
Gwarzo stated that this was one of the initiatives being
implemented by the Commission as part of its 10 year Capital Market Master Plan
to encourage retail investors to return to the market and thereby deepen the
market.
The DG assured that once the e-dividend platform is fully
operational the issue of stale warrant will be of the past, while emphasising
that the only way to attract retail investors back to the market is to ensure
that concrete steps are taken to adequately address their concerns.
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