Nigeria’s capital market is undergoing a digital overhaul aimed at tackling decades-old inefficiencies that have, for the longest time, locked up billions of naira in unclaimed dividends and eroded investor confidence.
The Chief Executive Officer of Coronation Registrars, Oluseyi Owoturo, said the reforms are essential if Nigeria’s capital market is to attract serious investors.
Owoturo said, “When dividends worth billions remain unclaimed, we’re not just talking about investor frustration—we’re talking about inefficiency that drains liquidity and undermines confidence across the market.”
READ ALSO:Agency Aims To Create Nigeria’s Digital Capital
According to him, these inefficiencies have in various ways stemmed from shareholders struggling with delays, paperwork, and opaque processes.
He said to bridge the gap between expectations and reality, market operators are rolling out digital solutions by introducing platforms aimed at making participation easier for both investors and issuers.
Before now, the Securities and Exchange Commission estimated that unclaimed dividends—some stretching back years had weakened liquidity.