Senate On Unclaimed Dividends

Nigeria’s Senate President, Bukola Saraki has urged members of the Senate Committee on Capital Market, to work closely with stakeholders in the sector to reposition the nation’s capital market. Saraki made the call at a public hearing organized by the Senate Committee on Capital Market on the status of the N90billion unclaimed dividends in securities for Nigerian investors and a Bill to give legislative framework for the Chartered Institute of Capital Market Registrars. Represented by the Senate Leader, Ahmad Lawan, the Senate President expressed confidence that the Committee will find legislative safeguards to challenges militating against the capital market adding  that the Capital Market exists to provide long-term capital to both the government and corporate bodies and at the same time attract returns for investors by way of dividends. He however said the issue of unclaimed dividends remains quite critical as it has eroded investors’ confidence thereby endangering the progress of the Nigeria Capital Market

 

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