Enterprise Television- SEC Restates Commitment to Investor Education
The Securities and Exchange Commission Acting Director-General, Dr. Abdul Zubair, while addressing financial journalists in Abuja said SEC has pledged to work with the media to ensure proper reporting of the capital market in order to enlighten and educate the investing public.
Zubair commended the media for their assistance so far in propagating the initiatives of the commission and enjoined them to continue to support SEC in its quest to educate and enlighten the investing public, as means of further deepening the market.
Some of the initiatives, he stated, included direct cash settlement, dematerialisation, consolidation of multiple accounts and e-dividend Mandate Management System; as they promote transparency, protect and enhance investors’ confidence in the capital market.
Zubair said, “We have rolled out a number of initiatives among which is the e-dividend campaign where investors will now be paid their dividends directly to their bank accounts. E- dividend simply refers to an online system of paying dividends to investors when companies declare dividends, which are the profits meant for investors. Rather than send it by post, registrars will just wire it to the investor’s bank account.’’
He stated that, “This will help in no small measure, reduce the problem of unclaimed dividends and also ensure that investors receive the benefits of their investments in the capital market timely”.
“We also have the direct cash settlement, dematerialisation, Nigerian Capital Market Development Fund, National Investors Protection Fund, among others, which are all in consonance with the present administration’s economic strategy focused on deepening the capital market as a vehicle for encouraging a private sector-led economy with enhanced productivity,” he said.
The SEC boss, therefore, enjoined all shareholders to take advantage of the initiatives introduced in the capital market, which are aimed primarily at strengthening the market and accelerating economic development.