Do shareholders need to activate E-divdend mandate in each of the company in his/her portfolio through each company registrar or once through the portfolio managing company like investnaija?
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Do shareholders need to activate E-divdend mandate in each of the company in his/her portfolio through each company registrar or once through the portfolio managing company like investnaija?
Short answer: You don’t need to fill a separate e-dividend form for every company—but you also cannot rely on your broker (like InvestNaija) alone. Let’s clarify the structure so you don’t make mistakes. 🧾 How e-Dividend actually works in Nigeria Dividends are handled by: Registrars (not your brokerRead more
Short answer: You don’t need to fill a separate e-dividend form for every company—but you also cannot rely on your broker (like InvestNaija) alone.
See lessLet’s clarify the structure so you don’t make mistakes.
🧾 How e-Dividend actually works in Nigeria
Dividends are handled by:
Registrars (not your broker)
Examples:
Datamax Registrars Limited
First Registrars & Investor Services Limited
Your shares are held in:
Central Securities Clearing System Plc
👉 So the flow is: Company → Registrar → Your bank account
⚠️ Key issue most investors miss
Each company can have a different registrar.
So if you own:
GTCO → Registrar A
Zenith → Registrar B
Dangote Cement → Registrar C
👉 Without a proper mandate, you may need to deal with each separately.
✅ The correct modern solution (VERY IMPORTANT)
You should use the SEC e-Dividend Mandate Management System (eDMMS) via your bank.
Through:
Securities and Exchange Commission Nigeria
👉 This allows you to:
Fill ONE mandate
Link it to your BVN
Cover ALL your shares across all registrars
🏦 How to do it properly (best method)
Option 1 (Recommended): Through your bank
Go to your bank and:
Request e-dividend mandate form
Fill using:
BVN
Bank account
Signature
👉 This automatically applies across registrars
Option 2: Online via registrar portals
You can also:
Fill forms on each registrar’s website
👉 But this is:
Stressful
Repetitive
Not necessary if you use BVN method
❌ What about InvestNaija?
👉 Important:
InvestNaija is a broker, not a registrar
So:
They help you buy shares
But they do NOT control dividend payment setup
👉 Meaning: Setting it in InvestNaija alone is NOT enough
🔥 What you should do now (clear action)
Since you already invested:
Go to your bank
Ask for: 👉 “E-dividend mandate form (BVN-based)”
Fill and submit
Confirm activation
⏳ After activation
Future dividends → paid directly to your bank
Old unpaid dividends → can be claimed
🧠 Bottom line (no confusion)
❌ Not per company (if using BVN system)
❌ Not handled by InvestNaija alone
✔️ Best method = one BVN-linked mandate via your bank