The move followed the adoption a motion moved by Mr Babangida Ibrahim at the plenary on Wednesday, entitled, ‘Need to Investigate the Rising Value of Unclaimed Dividends, Unremitted Withholding Tax on Dividends and their Attendant Effects on the Nation’s Economy.’
Moving the motion, Ibrahim said unclaimed dividends had continued to increase over the years, and by implication unremitted withholding tax on dividends in Nigeria. He added that almost three years after the 8th House’ intervention, the value of unclaimed dividends as of March 2019 stood at a whooping sum of N126.03bn.
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