The Senate Committee on Capital Market, Security and Exchange Commission (SEC) and stakeholders in the capital market on Monday said they would collaborate to evolve strategies to reclaim unclaimed dividends in the country.
The agreement was reached at a one-day public hearing organised by the Senate panel to find a lasting solution to the issue.
Apart from suggesting a further amendment to the Finance Act, stakeholders at the session emphasised the need for proper sensitization about the activities of the SEC.
They urged the SEC to use modern technology to identify owners of the unclaimed dividends and come up with comprehensive data.
All the participants also agreed that the Director General of the SEC, Emomotimi Agama, should forward to the Senate Committee the necessary strategies on how to reclaim unclaimed dividends in the Debt Management Office within the next six months.
