Secure Your Future

N190BN UNCLAIMED DIVIDENDS: HOW TO GET YOURS
In Nigeria today, there are about N190 billion unclaimed dividends. There are many reasons why people left their dividends unclaimed. Maybe they moved and forgot to update their addresses with their investment companies. Maybe they inherited shares and didn’t know they were entitled to dividends. Maybe they simply lost track of their investments or some of them are dead.
Last week, Seyi Abiodun, a popular finance coach, made a post about unclaimed dividends, enlightening his followers on how to know if they have unclaimed dividends and hence how to claim them.
“You may have unclaimed dividends either from your personal investments, or from a parent, a grandparent, a spouse, or any other family member. Sometimes, I casually check the portal just in case my grandfather has shares hiding somewhere, you never know,” he said.
Abiodun’s post had garnered over 200 comments at the time of writing the article, with many saying they checked the portal and found out that they had unclaimed dividends.
For instance, one of his followers wrote: “Thank you… I found my name. I remember I invested in Transcorp in 2010 and just found my name. I downloaded the e-mandate form and it requires me to indicate the date I opened my bank account.”
Another person said: “I checked the list and my dad’s name is on it; he has a share with Dangote Flour Mill but unfortunately, he’s late. Please, how do I go about that? Thanks.”
Last week, the Securities and Exchange Commission said that the unclaimed dividends stood at N190 billion.
Many Nigerian companies pay dividends, some pay twice a year — interim (January-June) and yearly (January-December) dividends.
To reduce rising unclaimed dividends over the years, SEC, in collaboration with the Central Bank of Nigeria and the Nigerian Inter-Bank Settlement System, launched the Electronic Mandate Management System platform.

Source/ BusinessDay

THINGS TO KNOW BEFORE YOU TAKE LOANS

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