The Securities and Exchange Commission (SEC) has encouraged investors to utilize its revamped e-dividend portal, emphasizing the platform’s security features and user-friendly interface.
This initiative aims to tackle the ongoing issue of unclaimed dividends, currently standing at a staggering N215 billion.
According to SEC Director General, Emomotimi Agama, the e-dividend portal, accessible through the SEC website or Nigerian Interbank Settlement System (NIBSS) platform, boasts state-of-the-art protection against cyber threats.
Agama also cautioned investors against using unofficial websites. He stressed the importance of accessing the portal solely through the SEC website to ensure authenticity and security.
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Regarding the requirement for Bank Verification Numbers (BVN) on the portal, Agama explained that, it is a crucial measure for verifying investor identities, thereby ensuring accurate identification and streamlining the dividend payment process.
This measure safeguards both investors and regulators, preventing fraudulent activities and ensuring seamless transactions.
Agama stated that the SEC is resolute in addressing the issue of unclaimed dividends, leveraging cutting-edge technology to revamp the entire process.
The revamped e-Dividend Mandate Management System (e-DMMS) portal introduces a self-service interface, empowering investors to mandate their accounts virtually, without the need for physical visits to registrars or banks.
By utilizing this secure and convenient platform, investors can effortlessly claim their dividends, enjoying a seamless and efficient experience. The SEC’s unwavering commitment to reducing unclaimed dividends promotes investor confidence, fostering a thriving capital market ecosystem.
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Through this enhanced e-portal, investors can securely manage their dividend payments, mitigating the risk of unclaimed dividends and ensuring a hassle-free experience.
Agama emphasized that the purpose of investing in the capital market is to receive returns. He noted that the Commission, alongside the Committee for Identity Management for the Capital Market, is leveraging technology to ensure accurate identification and streamline the dividend payment process.
