BUSINESS TECHNOLOGY MEDIA FOR AFRICA

Nigeria agencies address dividend fraud

Nigeria agencies address dividend fraud
By Henry Ifeanyi
09 Dec 2013

Senior officials from the Central Bank of Nigeria (CBN) and the Economic and Financial Crimes Commission (EFCC) are lined up to address members of the public on how to guard against dividend fraud.

The Nigeria Postal Service (NIPOST) confirmed that CBN governor, Sanusi Lamido Sanusi, and EFCC chairman, Ibrahim Lamorde would participate and address customers during the event.

The postal agency is organising the event that is scheduled to take place on Thursday.

NIPOST master general Ibrahim Mori Baba said the topic for the forum was born out the desire to address some to the challenges that NIPOST was having in the field.

“The Convention on Dividend Warrant (CDW) has previously been there but when it was removed, all of a sudden, dividend fraud re-emerged. So we have been having challenges with different registrars writing to us that a lot of customers are complaining they did not see their dividend warrant,” he said.

“In BulkPost we do not deliver mails. We only collect, flank and distribute them to Central Mail Processing Centres (CMPC). That is where our duties end. Whatever happens from that point we do not know. So when people started complaining we felt it is important we bring the topical issue to bear,” Baba explained.

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