e-DIVIDEND MANDATE FORMS READY

Investors who have bought shares through the Nigerian capital market or are planning to, can now download mandate forms for each of the 18 Registrars in Nigeria.
According to an official notice on the website of Securities and Exchange Commission, Nigeria, the forms can be downloaded by clicking the relevant one out of the 18 on display.
It is with the mandate form investors are expected to authorise the payment of their dividends into mandated or designated account of their choice.
The registrars with mandate forms on display are, in alphabetical order, African Prudential, Apel Assets, Crown, Cardinal stone, Centurion, Datamax, EDC and First Registrars.
Others are Flour Mills, GTL, Lighthouse, Mainstreet  bank, Meristem, PAC, PACE, United Securities, Unity and Veritas.
SEC Nigeria launched e-Dividend back in February 2008 and since then, in collaboration with relevant agencies and market organisations has been perfecting plans and programmes for its smooth take off.
In recent months it had organised road shows and town hall meetings in Lagos, Abuja and Kano to create more awareness and sensitise investors on the policy.
It is hoped that it will eventually reduce incidence of unclaimed dividend to the barest minimum, engender prompt receipt and access to dividend by shareholders, help eliminate risk and cost involved in producing, posting and handling dividend warrants hitherto the norm and indeed, encourage more transparency and accountability in the payment system.
Registrars are naturally at the centre of e-Dividend because as custodian of corporate shareholders register, they compile list of shareholders entitled to any particular dividend, and also update the network, send notice of dividend payment and accurately capture details into the e-Dividend payment network.

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