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Low uptake of e-bonus initiative at Nigerian Stock Exchange

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According to a report, only two of the 35 licensed registrars in the Nigerian Capital market have embraced the initiative since its introduction in 2004.

In a statement the NSE said: “Since the establishment of the Securities and Exchange Commission’s (SEC) e-bonus initiative in conjunction with the Nigerian Stock Exchange (NSE) in September, 2004 many investors are yet to embrace the laudable idea. With declining investment returns via capital appreciation and an increased tendency by quoted firms to reward shareholders with bonuses and dividend going forward; it is best to subscribe to the platform through the registrars and stop losses due to missing certificates,”

It is hoped that more companies and investors will make use of the service, as e-bonus electronic platforms allow the Registrars to electronically credit an investors predetermined CSCS account with bonus issues.

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