Nigeria: Over N200billion is estimated to be trapped in the pool of unclaimed dividends
The Finance Act 2020 was recently signed into law by President Buhari and became effective from January 1, 2021. According to the provisions of the Finance Act 2020, the federal government can borrow from the pool of unclaimed dividends of quoted companies that have remained unclaimed for a period of not less than six years from the date of declaring such dividends. Over N200billion is estimated to be trapped in the pool of unclaimed dividends and this is quite huge. It is clear that as soon as the provision is fully applied and implemented, no shareholder will be able to…
