Shareholders laud CBN policy on cheque deposit into savings account

By Moses Ebosele – 
  Shareholder activist and Co-Founder of Nigeria Shareholders Solidarity Association (NSSA), Alhaji Gbadebo Olatokunbo, has commended   recent Central Bank of Nigeria (CBN) directive approving payment of cheques into savings account.
 Olatokunbo in a statement on Wednesday said: “Kudos to CBN on this new directive that will also affect the payment of dividend into bank savings account,since dividend-warrants were treated like bank-cheques and thereby assist in the reduction of unclaimed-dividend problems”.
He added: “It is on record that most retail-investors (Shareholders) were savings account holders and several were not   in a position to meet the requirement for the opening of current account with the banks, which had contributed mostly to the increase of the unclaimed-dividend.
“We hope that the regulatory agencies will ensure that the Registrars would abide with the CBN on this new directive by accepting e-dividend mandate of shareholders with bank savings account”.
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