• Insist SEC’s control measures not yielding meaningful result
This is in spite of measures put in place by the regulators to check the incidence in the local bourse. According to shareholders, the move, instead of boosting transaction processes, resulted in heightened delay, accompanied by irregularities that also encourage fraud. The continuous rise in the inflation rate has negatively impacted the little income, making it worthless such that it costs more to obtain the income than to let it go with the bank’s charges.
Nigerian Breweries and Lafarge constitute 92,936 and 17,921 shareholders as at December 31, 2021 respectively. “So shareholders will continue to suffer to get their money. The bureaucratic process of getting this dividend paid is a very impeding factor. “For instance, the attitude of some registrars and companies in cooperating with the SEC in this regard is questionable.
Source: News Formal (newsformal.com)
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