MTN still in the process of becoming public liability company – SEC - Vanguard News

Unclaimed dividend in the market is being tackled in minimum of two solid approaches. One of them is e-dividend. For every account that is mandated, all accrued dividends is automatically paid. Then there is the use of regularization of multiple accounts. We discovered that while dividend is growing so is unclaimed dividends. Those people that have multiple accounts can only lay claim to dividends in one account, all the others will keep warehousing dividends as long as they are not regularized.

However, I do know that MTN had issues with the Nigerian government and they have been trying to sort it out. I think they have sorted out one aspect of that. I don’t think the other part has been sorted out and because they have committed to coming to the market, they have decided to come through Listing by Introduction.

Even in the market, the Nigerian Stock Exchange is doing a lot in the area as well as the FMDQ OTC Securities Exchange. FMDQ has taken some people to India for capacity building. All stakeholders including, the Central Bank of Nigeria have been joining hands together to ensure that we get it right.In the last CMC, we talked about it and inaugurated a committee in respect of FinTech.

There is also on-going collaboration led by the CBN. There is an inter-agency committee on virtual currencies which the SEC is working on with other market operators. In no distant time, the SEC will come up with regulations on crypto currencies. We are embarking on investor education so that investors understand what it’s all about.

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