I THINK the apex regulatory body in the Nigerian capital market is interested in shareholders’ money. The Commission had tried to set up Unclaimed Dividend Trust Fund in the past and this was resisted by shareholders because of lack of trust in the management of public funds. Why is it that SEC is always interested in using shareholders money to develop the market? The Commission receives allocation from the Federal Government, so that should be enough to develop our market.

It is impossible and I say it with every sense of responsibility, it is impossible for an individual be it Nze Chidi Duru or any other party not to have an investment in any PFA and yet the shares of a PFA are credited in his name. In the PRA that we innovated or for which I chaired in the House of Representative and which I also was a joint chair in the Hamonisation Committee of the House and the Senate, there were extant regulations that the National Pension Commission innovated, in sense that for every investment of a shareholder in the industry whether it is a PFA or a PFC, that investment is subject to verification by the National Pension Commission and all those investment including the investment that was done by the shareholders of FGP was verified by the National Pension Commission.

THE nation’s external reserve continued its downward trend last week as it fell by $200 million to $30.49 billion last week Thursday from $30.69 billion Thursday of the previous week.

The truth of the matter is that those companies that are listed in the ASeM are more like moribund.

THE chairman of Nestle Nigeria Plc, Mr.David Ifezulike, has enjoined the shareholders of the company to complement the effort of Securities and Exchange Commission, SEC, to reduce the quantum of unclaimed dividend in the nation’s capital market by enrolling in the on-going e-dividend.

A WHOPPING N24.98 billion was withdrawn from the profits 14 banks quoted on the Nigerian Stock Exchange, NSE, and transferred to the Central Bank of Nigeria, CBN, Export Stimulation Fund.

LAW Union & Rock Insurance Plc has said that it will focus on distribution of its products to the burgeoning middle class during the course of 2017 financial year to drive growth and profitability.

THE third edition of Africa Reinsurance Corporation (Africa Re) Awards recognized Delphine Traoré Maïdou as the CEO of the Year for the significant contribution she made to Africa’s economy as CEO of Allianz Global Corporate & Specialty (AGCS) Africa from 2012 to 2017.

THE recent rally seen in the equities market may be sustained this week as the market is set to benefit from some positive developments in the macro-economic environment, even as investors are expected to ride on the back of the recent rally to take profits.

Even if the process of placing a fixed deposit varies slightly from one bank to another, opening a fixed deposit account is still very simple.