Why is my dividend history showing GTCO instead of my bank account on Datamax shareholders portal in Nigeria and how can I fix it?

This is a common point of confusion on shareholder portals like Datamax Shareholders Portal—and it’s not an error in the way you’re thinking.
What you’re seeing (GTCO on dividend history)
When your dividend history shows Guaranty Trust Holding Company Plc (GTCO), it does NOT mean:
GTCO is your bank account ❌
Or that your dividends are being paid into GTCO ❌
What it actually means:
It is showing the company that paid the dividend, not the bank receiving the money.
How dividend records are structured
On platforms like Datamax:
“Client Account / Dividend History” typically shows:
Company name (e.g., GTCO, Dangote, etc.)
Dividend amount
Payment date
Status (paid/unpaid)
👉 It is a transaction log, not a bank account display.
Where your bank account actually comes in
Your real payment account (e.g., Access Bank) is linked through:
The e-Dividend Mandate system:
Managed by Central Securities Clearing System (CSCS)
And the registrars
If properly set:
Dividends from GTCO or any company go straight to your bank (e.g., Access Bank Plc)
Why you’re confused (very understandable)
You expected:
“Client Account = My Bank Account”
But in reality:
“Client Account” = Your shareholder/investor record
Not your withdrawal bank
When it could actually be a problem
Now, let’s be precise—there can be an issue if:
1. Your e-dividend mandate is not set or outdated
Then:
Dividends may go to an old bank
Or remain unpaid
2. You have multiple CSCS/registrar records
Then:
One account may be linked to GTCO bank
Another to Access Bank
3. Registrar mismatch
Different companies use different registrars:
Datamax handles some companies, not all
How to fix / verify properly (step-by-step)
Step 1: Confirm your e-dividend setup
Check:
Which bank account is linked to your CSCS
If unsure:
Visit your stockbroker or registrar
Step 2: Check your bank alert history
Look for:
Dividend payments from GTCO
If you’re receiving alerts in Access Bank: → Everything is fine
Step 3: Update your e-dividend mandate (if needed)
If wrong bank is linked:
Fill SEC e-dividend form
Submit through:
Your bank, or
Registrar
Step 4: Cross-check with your broker
Especially if you use multiple apps like:
InvestNaija
Others
Ask:
“Which bank is currently linked to my CSCS for dividends?”
Bottom line
Seeing GTCO there is normal
It refers to the dividend-paying company, not your bank
Your actual bank account is controlled via e-dividend mandate, not that screen