MINISTER, SHAREHOLDERS DISAGREE OVER N150B UNCLAIMED DIVIDENDS

Written by on December 11, 2020

THE MINISTER OF FINANCE, BUDGET AND NATIONAL PLANNING, MRS ZAINAB AHMED, YESTERDAY, DISAGREED WITH THE INDEPENDENT SHAREHOLDERS ASSOCIATION OF NIGERIA OVER PLANS BY THE FEDERAL GOVERNMENT TO TAKE OVER UNCLAIMED DIVIDENDS WORTH OVER N150BILLION IN THE COUNTRY.

WHILE THE MINISTER INSISTED THAT THE FEDERAL GOVERNMENT HAS THE RIGHT TO BORROW ANY UNCLAIMED DIVIDENDS THAT IS LYING FALLOW, THE SHAREHOLDERS SAID SUCH MONEY SHOULD BE RETURNED TO THE COMPANIES THAT ISSUED THE DIVIDENDS IN THE FIRST PLACE. AHMED AND THE OTHER CRITICAL STAKEHOLDERS MADE THEIR VIEWS KNOWN DURING A PUBLIC HEARING ON THE FINANCE BILL 2020 ORGANISED BY THE JOINT SENATE COMMITTEE ON FINANCE, CUSTOMS AND EXCISE, TRADE AND INVESTMENT AND NATIONAL PLANNING IN ABUJA.


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