The chief executive of the Securities and Exchange Commission (SEC) said that efforts are underway to rebuild the E-Dividend Management Mandate System (e-DMMS) platform. This is to reduce unclaimed dividends on the capital market.

During an interview, Lamido Yuguda, the managing director of the SEC, said that members of the Capital Market Committee had adopted certain measures to increase the number of investors appointed to e-DMMS and R& To reduce the quantity of unclaimed dividends on the market. He added that the Electronic Dividend Committee had worked on the platform and is considering having it rebuilt.

According to Lamido Yuguda, this means having an application programming interface (API) for banks and registrars, centralized submission of electronic dividend mandate forms, and a revamped web interface, among other things. For him, the SEC has invested a lot of resources and has embarked on a number of investor education programs to ensure that people mandate their accounts to allow them to receive the benefits of their investment in the capital market.