Shareholder Groups Boycott SEC Meeting Over E-Dividend Payment

[Shola Sholaz]

Some shareholder groups said that they boycotted a meeting called by the Securities and Exchange Commission, SEC, to resolve issues on the e dividend payment because they were not involved in the proposals. The groups told the News Agency of Nigeria (NAN) in Lagos that they were also aggrieved because the Commission failed to protect their interest during the downturn in the capital market.
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NAN reports that the meeting was scheduled for Tuesday, May 14 in Abuja. The meeting was to brainstorm on ways to ensure the take off of e- dividend payment without hitches. Mr Boniface Okezie, President, Progressive Shareholders Association of Nigeria (PSAN), told NAN that SECOND failed to consult with the shareholders on the issue.
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"We ought to have been consulted before SECOND issued a circular on the e-dividend payment, which generated a lot of controversy," Okezie said.