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Investors lament delay in share certificate verification

By Providence Obuh
Investors  have continued to lament the long delay associated with the verification of  share certificates by registrars among others.
The investors who daily besieged registrars of quoted companies in their thousands are faced with various difficulties, ranging from verification of their share certificates, dividend warrant enquiries, re-validation of their warrant and probate letter of administration.

The embattled  investors called on the relevant authorities to look at the issue and address it immediately, because the rate at which they troop to the registrars office is becoming alarming and calls for attention.

An investor, who spoke to Vanguard on condition of anonymity, at City Securities Limited  Lagos office ,  lamented that the processes involved in verification of share certificates are enormous. This, according to him, is because you have to go through the brokers first, then from the brokers to the registrars and forwarded to the Central Securities Clearing System (CSCS), who in turn send it to investors through internet  via by  e-mail .

Furthermore, shareholders have been complaining that they hardly receive receipt of their share certificate or dividend warrant and that bonuses are issued many years after purchase of shares, investors are agitated and anxious about their investment and this is bringing lot and lots of complaint in the registrars company of many banks.

Investing in shares of quoted companies in Nigeria is one of the best ways for any one who wants to make it in an environment like ours.
Investment is one of the criteria to becoming wealthy or rich, it also helps in curbing extravagancy, but when an investor is investing without an update of his or her  investment, he/she becomes nervous and anxiety sets in, this basically, is the reason why  investors go to their respective registrars for update of their share certificate verification, dividend enquiries, and  re- validation of their warrant.

Another investor from CSL also claimed that dividend warrant or share certificates are not often received by many investors outside Lagos because of inaccurate record of investors address, he also added that the registrars lack personnel for the work, and that warrants are sent to the wrong address due to mix up in shareholders connection.\

In contrast to shareholders and investors predicament, the company registrars also faults investors attitude towards their investment.  They explained  that investors change their residential address without the knowledge of the registrars and they come back complaining when they are the cause of the untold problems.

In as much as there is no corresponding technology to meet investors need especially in the area of dividend warrant conversion by fraud, the complaint may be there until action is taken and also they criticize the idea of investors and shareholders not wanting to embrace the E” transaction option given to them.

Some of the registrars offices visited were calm and things were just going on smoothly and orderly, take City Security registrars at primrose tower 17A broad street, Tuesday, things were moving quietly and orderly even if at a point in their service they had to stop for like five minutes to control some technical faults detected, most of the investors were just seating patiently waiting for their ticket number to be called and they will be answered accordingly, but most of the registrars office are crowded and investors are complaining bitterly.


Disclaimer

Comments expressed here do not reflect the opinions of vanguard newspapers or any employee thereof.