Securities and Exchange Commission (SEC) has pledged to work with Finance Correspondents to ensure proper reporting of the capital market in order to enlighten and educate the investing public.
Dr. Abdul Zubair stated this when Executive of Finance Correspondents Association of Nigeria (FICAN) Abuja Chapter visited him recently.
Zubair commended the journalists for their assistance so far in propagating the initiatives of the Commission and enjoined them to continue to support the SEC in its quest to educate and enlighten the investing public, as means of further deepening the market.
Some of the initiatives, he stated, include direct cash settlement, dematerialization, consolidation if Multiple Accounts and e-Dividend Mandate Management System; as they promote transparency, protect and enhance investors’ confidence in the capital market.
“We have rolled out a number of initiatives among which is the e-dividend campaign where investors will now be paid their dividends directly to their bank accounts. E- dividend simply refers to an online system of paying dividends to investors when companies declare dividends, which are the profits meant for investors. Rather than send it by post, Registrars will just wire it to the investor’s bank account.’’