SEC launches revamped e-Dividend mandate management system

The Nigerian Securities and Exchange Commission (SEC) yesterday announced the launch of the revamped e-Dividend Mandate Management System (e-DMMS) Portal. According to the regulatory body, the revamped e-DMMS Portal introduces a “self-service interface” that allows investors to mandate their accounts for e-Dividend virtually, without having to visit a registrar or a bank. In August 2023, […]

The Nigerian Securities and Exchange Commission (SEC) yesterday announced the launch of the revamped e-Dividend Mandate Management System (e-DMMS) Portal.

According to the regulatory body, the revamped e-DMMS Portal introduces a “self-service interface” that allows investors to mandate their accounts for e-Dividend virtually, without having to visit a registrar or a bank.

In August 2023, the total value of unclaimed dividends rose to N190 billion, representing a 7.35 per cent rise from N177 billion recorded in 2021, which was the last figure from the SEC.

The management said the initiative is another important step towards curbing the growth of unclaimed dividend and generally improving investor experience in the Nigerian capital market.

It urged investors to approach their respective registrars or banks to register for collection of their unclaimed dividends and the receipt of subsequent dividends electronically.

Investors whose shareholding accounts appear on the list of non-mandated accounts hosted on the commission’s website (ww.sec.gov.ng/non-mandated) are advised to use the new self-service portal by clicking on the “NIBSS Self Service” link or log on to https://docuhub3.nibss-plc.com.ng/edmms/self-service.