CBN, SEC Unveil E-dividend portal

The end may be here to the issue of  unclaimed dividends payment, as the Securities and Exchange Commission in collaboration with the Central Bank of Nigeria formally launched the E-dividend portal in Lagos.

Commenting on the portal, Director General of the Securities and Exchange Commission, Mounir H. Gwarzo said bank officials as well as registrars had commenced trainings on the use of the E-dividend portal‎ which requires Web access, an investors account number, Bank Verification Number, CSCS number and Registration number.

It was said that the use of this portal will ensure that no investor would be charged for mandate validation, it will also enable payment of dividends not only to current accounts as previously done but also to savings accounts held by investors. Dormant accounts would also be able to receive dividends but would require reactivation in other to enable withdrawals.

Gwarzo also assured investors in Diaspora‎ that access to an online mandate form would be provided by registrars to ensure verification of identity and payment of earnings.