Dividends Transfer to Unclaimed Funds Trust Fund (UFTF)

Dividends Transfer to Unclaimed Funds Trust Fund (UFTF)

Overview

In compliance with the Finance Act 2020 (Section 60), any dividend declared by a public company listed on the Nigerian Exchange Limited (NGX) that remains unclaimed for six (6) years or more is subject to transfer to the Unclaimed Funds Trust Fund (UFTF). 


What This Means

Effective December 31, 2020, companies are legally required to transfer all dividends that have remained unclaimed for at least six years to the UFTF. The fund is managed by the Federal Government of Nigeria and held in trust until the rightful shareholder comes forward with a valid claim. CLICK HERE to read more


Action Required by Shareholders

To avoid complications or delays in accessing dividends:

  1. Complete the e-mandate Form -  Click here to complete the e-mandate form

  2. Attach All Required Documents -  When completing the form, ensure that all necessary supporting documents are attached. These may include valid means of identification, proof of ownership, and a recent passport photograph. Incomplete submissions may lead to delays.

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