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Expert Tasks Shareholders On e-Dividend Payment

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7 years ago

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The Chief Relationship Officer, Foresight Securities and Investment Ltd., Mr Fakrogha Charles has urged investors in the stock market to embrace the e-dividend payment platform to reduce the rate of unclaimed dividends.
Fakrogha, who gave the advice in an interview with The Tide source in Lagos, said that embracing the e-dividend platform would enable shareholders to get their dividend warrant electronically as at when due and with ease.
E-dividend payment platform is an electronic means of posting shareholders’ dividends directly into their bank accounts.
According to him, the e-dividend platform involves the Registrar collecting the account details of investors such that whenever a dividend warrant is declared, the payment is sent directly into the investors’ accounts.
Reports say that the e-dividend payment platform was introduced in 2008 with the aim of addressing unclaimed dividends in the capital market.
He said that stockbrokers and companies stand  a better chance to make investors embrace the innovation better by advising and educating them on its importance.
“We, at Foresight Securities and Investment Ltd., have taken it upon ourselves to ensure that all our investors, both old and new, now have the e-dividend form.
“It is now compulsory in the company that the documentation of all our old clients are revisited to ensure that the e-dividend form is opened for each of them through the registrar.
“If the system of e-dividend payment could be adopted by all investors and companies, the rate of unclaimed dividends will drastically be reduced,” the official said.
He therefore, urged the stock regulatory bodies to sensitise the investing public, through their numerous campaigns on the benefits of the innovation.
According to him, many investors have no knowledge about the e-dividend payment platform, thus calling for the sensitisation of the shareholders.
Meanwhile, an analysis of the market activities for last week revealed that a total of 892.725 million shares worth N13.075 billion in 15,607 deals were traded by investors during the period.
This was in contrast to the 1.533 billion shares valued at N23.026 billion that changed hands last week in 17,009 deals in the previous week.
According to the Financial Services Industry which led the activity chart during the period, with 757.992 million shares valued at N9.251 billion traded in 9,653 deals.
The consumer goods industry followed with 43.651 million shares worth N2.754 billion in 2,231 deals.
The third place was occupied by the oil and gas industry, with a turnover of 28.892 million shares, worth N558.264 million in 1,430 deals.

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Kenyan Runners Dominate Berlin Marathons

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1 day ago

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September 22, 2025

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Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.

Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.

The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.

Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.

“I did my best and I am happy for this performance,” said Sawe.

“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”

Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.

In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.

Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.

Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.

 

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NIS Ends Decentralised Passport Production After 62 Years

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September 22, 2025

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The Nigeria Immigration Service (NIS) has officially ended passport production at multiple centres, transitioning to a single, centralised system for the first time in 62 years.
Minister of Interior, Dr Olubunmi Tunji-Ojo, made the disclosure during an inspection of the Nigeria’s new Centralised Passport Personalisation Centre at the NIS Headquarters in Abuja, last Thursday.
He stated that since the establishment of NIS in 1963, Nigeria had never operated a central passport production centre, until now, marking a major reform milestone.
“The project is 100 per cent ready. Nigeria can now be more productive and efficient in delivering passport services,” Tunji-Ojo said.
He explained that old machines could only produce 250 to 300 passports daily, but the new system had a capacity of 4,500 to 5,000 passports every day.
“With this, NIS can now meet daily demands within just four to five hours of operation,” he added, describing it as a game-changer for passport processing in Nigeria.
“We promised two-week delivery, and we’re now pushing for one week.
“Automation and optimisation are crucial for keeping this promise to Nigerians,” the minister said.
He noted that centralisation, in line with global standards, would improve uniformity and enhance the overall integrity of Nigerian travel documents worldwide.
Tunji-Ojo described the development as a step toward bringing services closer to Nigerians while driving a culture of efficiency and total passport system reform.
According to him, the centralised production system aligns with President Bola Tinubu’s reform agenda, boosting NIS capacity and changing the narrative for improved service delivery.
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FG To Roll Out Digital Public Infrastructure, Data Exchange, Next Year 

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1 day ago

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September 22, 2025

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The National Information Technology Development Agency (NITDA) has announced plans to roll out Digital Public Infrastructure (DPI) and the Nigerian Data Exchange (NGDX) platforms across key sectors of the economy, starting in early 2026.
Director of E-Government and Digital Economy at NITDA, Dr. Salisu Kaka, made the disclosure in Abuja during a stakeholder review session of the DPI and NGDX drafts at the Digital Public Infrastructure Live Event.
The forum, themed “Advancing Nigeria’s Digital Public Infrastructure through Standards, Data Exchange and e-Government Transformation,” brought together regulators, state governments, and private sector stakeholders to harmonise inputs for building inclusive, secure, and interoperable systems for governance and service delivery.
According to Kaka, Nigeria already has several foundational elements in place, including national identity systems and digital payment platforms.
What remains is the establishment of the data exchange framework, which he said would be finalised by the end of 2025.
“Before the end of this year and by next year we will be fully ready with the foundational element, and we start dropping the use cases across sectors,” Kaka explained.
He stressed that the federal government recognises the autonomy of states urging them to align with national standards.
“If the states can model and reflect what happens at the national level, then we can have a 360-degree view of the whole data exchange across the country and drive all-of-government processes,” he added.
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