From time to time, some of our solicitors and barristers at Accord Legal release publication and resources which may be helpful to our clients and the public.
Recently, the Securities and Exchange Commission (SEC) put the figure of unclaimed dividends in the country at an alarming N60bni. The news has since generated considerable reaction from stakeholders including regulatory authorities and shareholders’ associations. Various reasons have been adduced for the steady increase of unclaimed dividends in the country. These include poor record keeping and update of shareholders’ data by registrars, poor communication channels, transportation and logistics systems and even in certain instances, a calculated attempt by corporate organisations to deprive shareholders (especially minority shareholders) of their dividends by taking advantage of the inefficiencies in the system... Read Now