The Securities and Exchange Commission (SEC) and registrars recently advised shareholders to complete e-dividend mandate forms and amend their records to enable them receive dividends directly into their bank accounts.
A dividend is the part of a company’s profit that is paid out to shareholders.
If you own shares in a firm and it announces a dividend , you will be paid according to the amount of shares you own . ( Source : The Nation )
This is how a lot of money is laying idle. The SEC has over ₦270 billion in unclaimed dividends and other inactive investor monies and is looking for the owners.
An unclaimed dividend is money a firm has said it would pay to shareholders but which is never collected.
There are various reasons why this can happen:
• The shareholder moved without filing an update to the records.
• Bank account data have been modified.
• No registration for e-dividends.
The shares were inherited, but the family did not know
• Lost stock certificates.
• The shareholder has died;
Step 1: Look for Unclaimed Dividends
Visit the SEC Nigeria Search Page or the CSCS Unclaimed Dividend List. Download Interactive Maps
Search by full-name or relative name.
Note the specific company name and the Registrar given.
Step 2: Go to the Self-Service Portal
For the virtual interface, log in to the NIBSS Self Service Portal.
Fill out the electronic mandate form (e-DMMS) without going to a bank.
Enter your BVN and active bank details.
Step 3: Provide Necessary Verification Documents
Get scanned copies of a valid ID (National ID, International Passport or Voter’s Card)
If you have a Clearing House Number (CHN) include it.
Provide passport images and the scanned signature as required by the registrar.
Deceased relatives Prepare the Death Certificate and Letter of Administration to claim on their behalf.
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