Tinubu Joins World Leaders in Tokyo to Woo Investors, Shape Africa’s Future

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August 19, 2025
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•To hold bilateral meetings with world leaders

•Engage Japanese businessmen on need to invest in Nigeria

Deji Elumoye in Abuja

President Bola Tinubu has arrived Tokyo, the capital of Japan, on the first leg of his two-nation official trip to attend the Ninth edition of the Tokyo International Conference on African Development (TICAD9).

Tinubu’s official jet, Nigeria Air Force 1, landed at Haneda International Airport in Tokyo around 12: 55am (local time) and was received by Hideo Matsubara, Ambassador in charge of TICAD.

The President’s participation at TICAD 9 in Yokohama marks a significant milestone being his first official visit to Japan since assuming office on May 29, 2023.

In Yokohama, Tinubu would canvass Nigeria as a prime investment destination to Japanese business leaders already active in the country’s economic activities and those considering entry in investments in several sectors.

During the East Asian conference, themed, “Co-create Innovative Solutions with Africa,” Tinubu would attend plenary sessions and hold bilateral meetings with world leaders, as well as Japanese business executives.

The President’s attendance underscores Nigeria’s commitment to strengthening bilateral ties with Japan, leveraging cutting-edge technologies and collaborative initiatives featured at TICAD 9.

TICAD is Japan’s premier diplomatic and economic forum dedicated to fostering sustainable development and deepening partnerships between Japan and the African continent.

The forum’s emphasis on African ownership and international partnership aligns with Tinubu’s agenda to boost economic integration, human resource development, and industrialisation across Africa, while also opening new avenues for investment and cooperation with Japan.

Also, the event, which provides bilateral platform opportunities between Africa and Japan, aims to promote a resilient and sustainable African society supported in peace, stability, and human security.

TICAD 9 would focus on economic transformation, private investment, and institutional development across the African and Asian continent.

The Tokyo International Conference on African Development, which is regularly hosted by the Japanese government alongside the United Nations, United Nations Development Programme, World Bank and African Union Commission, has been an event that sets the agenda in Japan-Africa relations since 1993.

The TICAD9 summit, with the objective of consolidating economic cooperation and opening new trade corridors with Asian partners, multinationals, and the governments of other African countries, is held every three years, alternating between Japan and African countries.

This year’s conference, coming after the last one hosted by Tunisia in 2022, will be held from 20 to 22 August 2025, will bring together African heads of state, development partners, private sector leaders, and civil society to co-create innovative solutions that drive economic growth, social development, and peace across the African continent.

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August 23, 2025
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Addressing Real Issues Behind Unclaimed Dividends in Nigeria’s Capital Market

Jonathan Eborah

Investing in the stock market is a long-term strategy for building wealth. In Nigeria, as in other parts of the world, investors expect to benefit from dividends, capital appreciation, or both. However, the recurring problem of unclaimed dividends has cast a shadow over the credibility of the capital market, with many retail investors expressing frustration at the role of registrars. While these concerns are understandable, blaming registrars exclusively oversimplifies a much broader and more complex issue.

Unclaimed dividends are a product of systemic challenges, not merely the inefficiencies of registrars. These dividends often remain unclaimed due to various factors, including: Multiple accounts created with different names or pseudonyms; Shareholders’ failure to update bank details or contact information; Estate complications after the death of shareholders; Delays by banks in validating dividend mandates and General investor ignorance about claim procedures.

Registrars are just one part of a broader value chain that includes stockbrokers, issuing companies, banks, and regulators. Holding them solely responsible ignores the collaborative nature of capital market operations.

One of the most criticized aspects of the dividend claim process is identity verification. However, registrars have a legal and fiduciary obligation to ensure that payments are made to the rightful owners. This is especially crucial in an environment where identity theft, fraud, and impersonation are real threats.

Registrars rely on tools such as BVN (Bank Verification Number), NIN (National Identity Number), and signature verification to verify claims. These are not “excuses” but part of risk management and regulatory compliance.

Contrary to the belief that registrars are resistant to change, many have embraced digital transformation. Several registrars now operate online portals where investors can: Submit e-dividend mandates; View dividend histories; Request revalidation of payments and Update personal data securely.

The challenge often lies not with the systems, but with incomplete or inconsistent data submitted by shareholders. Additionally, national infrastructure gaps, poor internet access in some regions, and low levels of digital literacy further compound the problem.

The delay in processing dividend claims is sometimes outside the registrar’s control. For instance: When shareholders provide incorrect or inconsistent data; When banks delay in validating or updating mandates and When investors fail to follow up after initial submission.

Even in cases where shareholders visit registrar offices, delays may still occur due to missing documentation or legacy issues related to paper-based systems from decades ago.

While the Securities and Exchange Commission (SEC) has taken steps, such as issuing a circular on unclaimed dividends and establishing the Unclaimed Funds Trust Fund, there may be a need for stronger enforcement and clearer redressal mechanisms.

Registrars alone cannot enforce policy or penalize non-compliant parties. The SEC must implement: Minimum response time standards for processing complaints; A user-friendly and responsive digital complaint resolution portal; Investor education programs targeted at low-literacy or elderly shareholders; Sanctions for all stakeholders, banks, brokers, and registrars, when they fail to meet expectations. And A unified identity system for the capital market to ease the Know-Your-Customer

Obligations and reduce the risk of identity theft:

Investors must also bear some responsibility. Many are unaware of how to complete e-dividend mandates or follow up on their claims. Some hold outdated physical share certificates or have never updated their contact details since purchasing shares/investments decades ago.

Registrars regularly hold investor clinics together with the SEC, participate in AGMs, and partner with regulators and stockbrokers for sensitization efforts. But participation is often low. Financial literacy must become a national priority if more investors are to enjoy the benefits of capital market participation.

The unclaimed dividend problem is not limited to Nigeria but exists in developed countries and each country works out how to resolve the challenge. In Nigeria’s capital market, the unclaimed dividend crisis will not be solved by pointing fingers. Registrars are not the enemy; they are facilitators working within a regulatory and operational ecosystem that requires improvement across board. Enhancing automation and promoting investor education will go further in solving the problem than a blame-centered approach.

For the Nigerian capital market to thrive and regain investor confidence, all stakeholders, regulators, registrars, companies, stockbrokers, and investors must work together in good faith to build a more transparent, inclusive, and responsive system.

*Jonathan Eborah, the Registrar/Chief Executive, Institute of Capital Markets Registrars, writes from jonathaneborah@yahoo.co.uk

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Jonathan Eborah Investing in the stock market is a long-term strategy for building wealth. In Nigeria, as in other parts of the world, investors expect to benefit from dividends, capital
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August 23, 2025
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INEC: Over 500,000 Nigerians Pre-register Online for CVR in Five Days

Adedayo Akinwale in Abuja

The Independent National Electoral Commission (INEC) yesterday, revealed that no fewer than 505,906 eligible Nigerians have pre-registered online for the Continuous Voter Registration (CVR) exercise within just five days.

The commission described the turnout as a strong indication that Nigerians remain eager to participate in the democratic process.

The electoral body added that it was impressed by the response of Nigerians who visited the online platform to pre-register.

INEC Chairman, Prof. Mahmood Yakubu, made this known in Abuja, at the official flag-off of the commission’s nationwide sensitisation campaign aimed at boosting public participation in the voter registration process.

Yakubu, who was represented by the National Commissioner, May Agbamuche-Mbu said the commission launched a vibrant roadshow that kicked off at INEC Headquarters in Maitama, passed through Banex Plaza in Wuse, and terminated at the bustling Wuse Market.

The chairman noted that similar campaigns would be held in states across the nation to further mobilise the public,

He stated: “As of midnight of August 22, 505,906 citizens have pre-registered. This is a testament that Nigerians believe in our democracy and the effort of the commission to further strengthen the electoral process.”

Yakubu said the CVR, which commenced with the online phase on August 18, 2025, would transition to the physical registration stage on Monday, August 25, 2025.

He explained that at that stage, both online pre-registrants and new applicants can complete their registration at designated INEC State and Local Government Area offices, where their biometrics would be captured.

The chairman emphasised that physical CVR would take place at 811 centres across the country, including all 774 Local Government Area offices and State offices, from 9 a.m. to 3 p.m., Monday to Friday.

On her part the Director Voter Education and Publicity, Victoria Eta-Messi, expressed the commission’s readiness for the in-person registration across its offices nationwide.

Her words: “Our offices are ready; we have been planning before now, which is why we took a week between pre-registration and in-person registration commencement.

“So, everything is on course. From August 25, people will be attended to in our offices nationwide, 36 states and the FCT, and the 774 LGA offices of INEC from 9 am to 3 pm,” she said.

Meanwhile, the Resident Electoral Commissioner (REC), Malam Aminu Kasimu Idris, has charged the Commission’s registration officers to maximise the training opportunity to equip their skills as the Commission expects high work ethics from them as schedule officers for the physical CVR exercise in the FCT.

The REC gave this charge yesterday, at the opening ceremony of a 2-day training on CVR for the Commission’s registration officers from the the six Area Councils and Head Office of INEC, FCT.

The Commissioner urged the registration officers to be attentive to help refresh and broaden their knowledge to carry out the national assignment they have been entrusted with in the FCT.

Also speaking, the Administrative Secretary, Mrs. Bimbo Oladunjoye, highlighted the importance of the training organised by the Commission, stressed that efficient use of technology, knowledgeable people and well defined processes are key to the success of the CVR exercise. She admonished the trainees to develop mindsets to learn, and also to take note of the recent innovations introduced into the CVR technology to enable them efficiently discharge their responsibilities to the people.

In INEC FCT, 66 Registration Officers were trained for the in- person CVR exercise billed to start on Monday, 25th August, 2025 at the INEC offices in the six Area Councils and Head Office.

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Adedayo Akinwale in Abuja The Independent National Electoral Commission (INEC) yesterday, revealed that no fewer than 505,906 eligible Nigerians have pre-registered online for the Continuous Voter Registration (CVR) exercise within
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