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Shareholders seek removal of Finance Act 2021 part v
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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.