Nigeria’s Securities and Exchange Commission Urges Local Government Bond Investing, To Address ₦215bn Unclaimed Dividends

Nigeria’s Securities and Exchange Commission is urging local government bond investments to deepen the capital markets and improve development at the grassroots level.

This is coming weeks after the Supreme Court affirmed the financial autonomy of Nigeria’s 774 local governments.

Director General of SEC, Dr. Emomotimi Agama, also said it is setting up a special unit to develop a mobile application and address unclaimed dividends which stood at N215 billion as at March 2024.

Lillian Jijingi

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