A finance expert and the Chief Executive Officer of SystemSpecs Limited, John Obaro, has suggested that to create the incentive for companies to act in the best interest of shareholders amid the N170 billion unclaimed dividends, they should be made to pay penalty interests on the unpaid dividends. He said this during his keynote presentation at the 10th annual conference of the Institute of Capital Market Registrars. The Securities and Exchange Commission had announced in August that the total unclaimed dividends in the Nigerian capital market stood at N170bn, which was reported by The PUNCH. Obaro argued that current laws do not create the incentive for stakeholders to solve the problem. He said, “We expect digital technology approach to drive positive outcomes in streamlining processes, harnessing data and shaping entirely new ways of doing business.

Source: Punch December 01, 2021 23:24 UTC