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Johnson Okafor
Shareholders have said that the creation of unclaimed Dividend Trust Fund and transfer of the unclaimed dividends into the Federation Account will encourage corruption and nepotism to the detriment of the shareholders/beneficiaries of returns on investments.
The shareholders under the aegis of Independent Shareholders Association of Nigeria stated this while reacting to the proposed fund at the public hearing of the Senate Committee on Finance, Trade and Investment and Public Procurement on the Finance Bill 2020.
In a statement signed by the National Coordinator, Mr Anthony Omojola and Founder, Mr Sunday Nwosu, ISAN said the fund was uncalled for.
Vanguard News
Shareholders seek removal of Finance Act 2021 part v
On
By Peter Egwuatu
Against the backdrop of transferring unclaimed dividend into the Federal Government federation account as proposed in the Finance Act 2021, the shareholders under the aegis of Independent Shareholder Association of Nigeria, ISAN have pleaded to the government that Part V of the Act be expunged as the idea of converting private wealth to government revenue negates the country’s constitutional provisions.
The shareholders after attending the public hearing of the Senate Committee on Finance, Trade & Investment and Public Procurement on the Finance Bill held last week, stated that the proposed bill will not serve their interest now and in the foreseeable future and fact could cause unwarranted hardship and misappropriation of their investments.