The Director General, Securities and Exchange Commission, SEC, Dr. Emomotimi Agama, has assured investors of the security of its e-dividend portal when accessed via the Commission's official website.
A statement by the SEC on Sunday said Dr. Agama emphasized that the process is safe and secure, encouraging investors to take advantage of the opportunity to mandate their accounts.
He noted that the only other legitimate website for accessing the e-dividend portal is that of the Nigerian Interbank Settlement System (NIBSS), which partnered with the SEC to develop the platform.
Dr. Agama stressed the importance of using the SEC's official website (www.sec.gov.ng) to avoid potential cyber security threats, stating, "You cannot run away from the fact that a lot of people might be trying to clone the website like they do for other institutions. But my guide is simply to go to the SEC website, which is fully protected, and access it."
He also clarified that requesting Bank Verification Numbers, BVN, on the portal is necessary for authenticating investor identities, ensuring that only legitimate investors access their accounts.
"We need to verify that you are who you say you are. If the BVN provided does not match with your identity, it means it's not yours," he added.
Addressing the issue of unclaimed dividends, Dr. Agama highlighted the SEC's commitment to resolving this challenge, noting that the Senate Committee on Capital Market had recently held a hearing on the matter.
He explained that the lack of proper identification of investors is a significant factor contributing to unclaimed dividends, and the SEC is actively working on solutions, including leveraging technology to improve the process.
"The SEC is at the forefront of ensuring that unclaimed dividends are reduced and eventually eliminated. We will continue to employ technology, education, and other means to help investors claim their dividends and understand the necessary processes," he said.
Unclaimed dividends refer to dividends that have not been paid to investors. To address this issue, the SEC recently launched a revamped e-Dividend Mandate Management System (e-DMMS) portal. The new portal offers a self-service interface that allows investors to mandate their accounts for e-dividend without needing to visit a registrar or bank.
