The acting Director General, Securities and Exchange Commission, Ms Mary Uduk, has announced the extension of the forbearance window for the regularisation of multiple subscriptions held by shareholders to December 2019. Uduk, while addressing journalists at the third Capital Markets Committee meeting in Lagos on Thursday, said the decision was jointly made by members of the committee in a bid to reduce the volume of unclaimed dividends in the capital market. The SEC, in August 2018, extended the deadline to December 31, 2018, to enable more people to regularise their accounts. Uduk said the CMC agreed to shift the deadline by one year because they realised that quite a number of investors were yet to understand the importance of the regularisation exercise. She stated that the likelihood of disruption by electioneering campaigns was also taken into consideration to enable more people to be captured in the regularisation exercise. Uduk noted that a lot of investors had bought shares in different names, making it difficult to properly capture the data of shareholders. Read More :
Category: Daily Market Report