Over one hundred and seventy billion naira unclaimed dividends returned to Unclaimed Dividend Trust Fund
Written by News Room on April 11, 2022
The Securities and Exchange Commission (SEC) says about one hundred and seventy billion naira unclaimed dividends have been remitted to the new Unclaimed Dividend Trust Fund (UDTF).
Director-General of the SEC, Lamido Yuguda, disclosed this at a virtual post-Capital Market Committee (CMC) meeting, which was held in Lagos, at the weekend.
According to him, the unclaimed dividends have been moved into the fund and are now managed by the Securities and Exchange Commission and the Debt Management Office (DMO).
He, however, stated that the monies would be released to the owner or beneficiaries with appropriate documents of proof of ownership.
Mr. Yuguda also noted that information that has to do with unclaimed dividends can now be generated from both the SEC and DMO.