The Securities and Exchange Commission (SEC) has said it has cleared N29 billion as unclaimed investors’ dividends after it harmonised multiple dividend accounts.
The SEC Director General (DG), Lamido Yuguda, disclosed this on Wednesday while speaking at an investigative hearing held by the House of Representatives Committee on Capital Market and Institutions.
- Police Accountability, Discipline Mechanism Weak – Gbajabiamila
- ‘Attacks On NEMA Warehouses Stalled Relief Items’ Distribution’
The hearing was on: “The Need to Investigate the Rising Value of Unclaimed Dividends, Unremitted Withholding Tax on Dividends and their Attendant Effects on Nation’s Economy.”
SPONSOR AD
The Chairman of the House of Committee, Babangida Ibrahim, and members of the committee expressed concern over the rise in unclaimed dividends which was projected to reach N200bn at the end of 2020.