SEC inaugurates e-dividend champions for banks and registrars

The Securities and Exchange Commission (SEC) today inaugurated the e- dividend champions for banks and registrars at its Lagos Zonal office.

The event was culminated with a workshop in order to properly brief the e-dividend champions on what is expected of them and also to train them on the dynamics of the e-Dividend Mandate Management System (e-DMMS) Portal.

The SEC noted the unimpressive progress of the exercise despite the massive enlightenment campaign embarked by the commission.

In a deft move to fortify the on-going e-dividend registration campaign, the Commission held a crucial e-dividend Technical Committee review meeting, on Monday, 8th August, 2016 and was chaired by the Director-General of SEC, Banks and Registrars were directed to nominate e-dividend champions that would be responsible for information dissemination to their branches and for easy contact.

According to the commission, “the objectives for the inauguration of the e-dividend champions among other things are: to drive information dissemination to all banks and registrars branches nationwide, provide means of easy contact/feedback to and from various branches nationwide, ensure only the approved and standardized mandate form is used by all registrars and banks, drive the establishment of e-dividend desk, in all their branches nationwide and to facilitate the escalation of issues between their individual organization, NIBSS, SEC, and CSCS, ensure every uploaded mandate form is approved within 72 hours and to share user experience .”

This strategy is aimed at fastracking and easing the identified difficulties being faced by investors during e- dividend registration.

The commission further encouraged investors to go to their banks or registrars to register and enjoy the free registration that will last up to the end of the year 2016.