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Capital market registrars across Nigeria have intensified efforts to resolve the persistent challenge of unclaimed dividends and investor complaints, holding a stakeholder forum in Oyo State to chart actionable solutions.
The event, organized by the Institute of Capital Market Registrars (ICMR), brought together representatives of the Securities and Exchange Commission (SEC), shareholder groups, and registrars to discuss how technology, regulation, and public awareness can help bridge existing gaps.
ICMR President, Mrs. Funmi Balogun, said the industry is working closely with regulators to clean up investor records, expand electronic dividend (e-dividend) adoption, and ensure timely payouts. She emphasized that unclaimed dividends remain a major concern, with billions of naira still unaccessed due to outdated shareholder information and incomplete bank mandates.
Balogun added that the new e-dividend mandate management system developed in collaboration with the SEC will streamline data verification and make it easier for investors to claim their dividends. The system also aims to reduce fraud and manual errors that have previously slowed reconciliation processes.
Participants at the forum highlighted that unclaimed dividends not only affect investors’ confidence but also hinder liquidity within the Nigerian capital market. They called for stronger investor education, simplified onboarding procedures, and enhanced collaboration among registrars, banks, and regulators.
A senior representative of the SEC reaffirmed the commission’s support for automation and continuous engagement with registrars to protect investors’ interests. The official noted that resolving unclaimed dividends is central to strengthening Nigeria’s capital market and restoring trust among retail investors.
The meeting concluded with a renewed commitment to improve investor experience through transparency, digital inclusion, and better communication. Stakeholders agreed that only through consistent reforms and accountability can the market achieve long-term stability and sustainable growth.
The event, organized by the Institute of Capital Market Registrars (ICMR), brought together representatives of the Securities and Exchange Commission (SEC), shareholder groups, and registrars to discuss how technology, regulation, and public awareness can help bridge existing gaps.
ICMR President, Mrs. Funmi Balogun, said the industry is working closely with regulators to clean up investor records, expand electronic dividend (e-dividend) adoption, and ensure timely payouts. She emphasized that unclaimed dividends remain a major concern, with billions of naira still unaccessed due to outdated shareholder information and incomplete bank mandates.
Balogun added that the new e-dividend mandate management system developed in collaboration with the SEC will streamline data verification and make it easier for investors to claim their dividends. The system also aims to reduce fraud and manual errors that have previously slowed reconciliation processes.
Participants at the forum highlighted that unclaimed dividends not only affect investors’ confidence but also hinder liquidity within the Nigerian capital market. They called for stronger investor education, simplified onboarding procedures, and enhanced collaboration among registrars, banks, and regulators.
A senior representative of the SEC reaffirmed the commission’s support for automation and continuous engagement with registrars to protect investors’ interests. The official noted that resolving unclaimed dividends is central to strengthening Nigeria’s capital market and restoring trust among retail investors.
The meeting concluded with a renewed commitment to improve investor experience through transparency, digital inclusion, and better communication. Stakeholders agreed that only through consistent reforms and accountability can the market achieve long-term stability and sustainable growth.