• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Business News

SEC moves to implement e-dividend fee in bank charges

Joseph Olaoluwa by Joseph Olaoluwa
August 24, 2019
in Business News
SEC, Whistleblowing policy

Mary Uduk, Acting Managing Director, Securities and Exchange Commission

Share on FacebookShare on TwitterShare on Linkedin

Steps have been taken by the Securities and Exchange Commission (SEC) to allow the inclusion of e-Dividend Mandate Management System fee into the guideline of bank charges. 

Mary Uduk, the acting Director-General, SEC hinted that the move was still in the works after a meeting with the Capital Market Committee (CMC). 

Uduk explained that this new move would facilitate the goal of reducing multiple accounts and unclaimed dividends. 

RelatedStories

SEC warns Nigerians against investing in Risevest and Stecs  

SEC warns Nigerians against Value Growth Platform, flags it as potential Ponzi scheme 

June 27, 2025
SEC warns Nigerians against investing in Risevest and Stecs  

SEC warns against Zugacoin and Samzuga GPT, says they are not licensed in Nigeria 

June 18, 2025

In her statement, she disclosed that over 2.7 million accounts had already been mandated for e-Dividend while over 3.4 billion share units had been properly regularized. 

[READ MORE: Why SEC is issuing a stern warning to Brokers, Issuing Houses/Bookrunners]

Ponzi, SEC

Further Details: Explaining why the regulator is introducing an e-dividend fee to regulate electronic dividends, she said the major reason was to combat identity theft in the capital market. She also promised to widen the knowledge gap in the market via the education curriculum. 

“SEC is taking these steps to combat the issue of identity theft in the market. 

“Other key initiatives embarked on include our partnership with the University of Lagos to promote capital market education and attract experts to the industry. We are also taking capital market education to primary and secondary schools so that we can capture these young ones.” 

[READ ALSO: Master Financial Terminologies used in Investing in Nigeria]

A Nairametrics report revealed SEC’s determination to ensure that the investors in the Nigerian capital market were adequately protected in all transactions. It also contained a promise restated by Uduk to the investors that they would not be shortchanged in any transactions in the market through several initiatives in place to boost investors’ confidence like the e-dividend mandate system. 

The bottom line: This new move by SEC to begin to allow the inclusion of e-Dividend Mandate Management System fee in the guideline of bank charges could help shareholders claim their dividends. 

 


Follow us for Breaking News and Market Intelligence.
Tags: Capital Market CommitteeMary UdukSecurities and Exchange Commission
Joseph Olaoluwa

Joseph Olaoluwa

Reincarnated as a lover of stocks, Angel investors, seed funds, and anything aligned to tech or startups raising money, Joseph's work at Nairametrics involves following the money to wherever it leads. Before joining Nairametrics, he won an investigative journalism fellowship with ICIR, appeared in several national dallies, with hard-hitting opinions, features and investigative pieces. He has also engaged in content marketing and copywriting for a top e-commerce firm in Nigeria.

Related Posts

SEC warns Nigerians against investing in Risevest and Stecs  
Legal & Regulations

SEC warns Nigerians against Value Growth Platform, flags it as potential Ponzi scheme 

June 27, 2025
SEC warns Nigerians against investing in Risevest and Stecs  
Legal & Regulations

SEC warns against Zugacoin and Samzuga GPT, says they are not licensed in Nigeria 

June 18, 2025
SEC warns Nigerians against investing in Risevest and Stecs  
Cryptos

SEC to launch ‘Crypto Smart, Nigeria Strong’ initiative for stablecoin regulation 

June 16, 2025
SEC warns Nigerians against investing in Risevest and Stecs  
Legal & Regulations

SEC directs companies to pay dividends older than 12 years, clarifies Finance Act 2020 provisions 

June 10, 2025
SEC warns Nigerians against investing in Risevest and Stecs  
Legal & Regulations

SEC warns Nigerians against investing in meme coin ‘$PUN’ 

June 7, 2025
Why young Nigerians must consider investing in local and foreign stock markets
Dividends

Fastest way to reclaim lost dividends in Nigeria

June 1, 2025
Next Post
nterlink Technologies Plc appoints new CEO

Interlink Technologies Plc appoints new CEO  

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank








DUNS

Recent News

  • Ex-world’s richest woman Francoise Bettencourt Meyers is $18 billion richer in 2025
  • NDLEA intercepts $17.7 million in counterfeit travelers’ cheques, arrests suspects 
  • Weekly Market Wrap: Insurance, Consumer goods sectors shine as All-Share Index gains 0.83% 

Follow us on social media:

Recent News

Francoise Bettencourt Meyers

Ex-world’s richest woman Francoise Bettencourt Meyers is $18 billion richer in 2025

July 6, 2025
NDLEA: 13.6% of Lagos secondary students have tried drugs, 6.9% are active users  

NDLEA intercepts $17.7 million in counterfeit travelers’ cheques, arrests suspects 

July 6, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics