The Securities and Exchange Commission, SEC has cried out over the activities of banks frustrating the e-dividend registration launched recently in Abuja to help investors clear the over N90b unclaimed dividends in the system.
While some banks are changing as much as N1,050 to stamp and sign the e-dividend forms that will enable investors migrate from the old dividend warrant system to the e-dividend platform, others are simply not providing the service.
Abujacitynews was told by an investor that he had been to his bank several times since the free e-dividend registration started but was told on each occasion that there was no instructions from their head office to embark on the exercise.
An SEC source disclosed that the Commission has already reported the matter to the Central Bank of Nigeria.
The source also said that the free e-dividend registration has been extended to April ending to counter the antics of unscrupulous bank officials who are bent on frustrating the exercise.
The SEC said that the e-dividend registration campaign which kicked off in January 2016 in Abuja with road shows and a town hall meeting will move to Lagos this week.
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