Registrars Seek Better Ways To Service Shareholders

Institute of Capital Market Registrars (ICMR) has said, the registrars are determined to continually seek better ways to service shareholders and keep operations running seamlessly.

The institute stated this at its 10th annual general meeting held in Lagos. 

The president/chairman of the ICMR, Oluseyi Owoturo said: “our institute recorded total revenue of N47.7 million in 2021 as against N42.6 million in 2020 and surplus grew to N9.64 million from N6.98 million in 2020. During the year, our total assets grew 8.8 per cent at N94.99 million from N86.4 million in 2020.”

Also, the registrar/chief executive of ICMR, Jonathan Eborah stated the COVID-19 pandemic has made many businesses to realize that operations can effectively and efficiently be performed remotely, saying that pandemic has also shown that the future of the industry lies strongly in the application of fintech.

He noted that, all registrar companies are sustaining the online platform to service investors and stakeholders in the capital market which has in no small measure increase the rate of convenience at which investors have their request treated at the comfort of their homes.

Eborah explained that the institute established a committee ‘eDMMS Revamp Committee’ to work with the Nigeria Interbank Settlement System (NIBSS) toward resolving challenges of the e-dividend mandate management system.

He also said, another committee was also established to work with other stakeholders in the capital market to review the current rights issue process, such that, there will be direct crediting of rights allocation of shareholders to their respective CSCS account.