A proposed Trust Find within the 2020 Finance Act has generated some controversy within the economic sector by securities experts and shareholders alike.
The section which proposes that unclaimed dividends be taken over by the Federal Government has been rebuked and experts have advised that the section is withdrawn from the 2020 Finance Act.
According to them, not only do companies need the retained earnings to grow their businesses, it will also generate employment and if a Trust Fund must be created, it ought to be led by the private sector and not the government.
They also argued that the step was unnecessary as market regulators do all to ensure that all unclaimed dividends were reduced to the barest minimum.
In addition, they further advised that things like letters of administration should be further simplified thus making the process less onerous.
