Four banks announce delay in filing 2023 results

PLACE YOUR ADVERT HERE

Banks have revealed that they will delay the filling of their audited result for the previous year.

The United Bank for Africa, Zenith Bank, Stanbic IBTC and Wema Bank had declared that they would not meet the deadline for the filing of their audited results for the last financial year.

Nigerian Exchange rules listed the companies that are expected to file their 2023 result by March 31.

Central Bank of Nigeria revealed that, most of them are still getting approval from the sector regulator.

UBA, in a notice filed with the NGX, said, “This is to inform The Nigerian Exchange Limited, our shareholders, and the general public that the 2023 Financial Statements and Reports for the year ended December 31, 2023, submitted to the Central Bank of Nigeria is undergoing the required review and approval process. Consequently, the bank has yet to publish its audited financial statements on the NGX portal.”

It plans to publish the results on or before April 30, 2024.

Wema Bank also blamed its delay on the wait for regulatory approval, saying, “The bank is currently processing the approval of the accounts with one of its regulators and upon receipt of the said approval, the bank will release the audited financial statements for the 2023 FYE to the public immediately.”

In the corporate notice filed with the exchange, Zenith Bank, which is in the middle of transitioning to a holding company, declared, “We have submitted our audited financial statements and accounts to the Central Bank of Nigeria for its final approval and had envisaged a delay because we recently concluded the component audit of our subsidiary companies.”

Stanbic IBTC Holdings Plc toed the same line as it stated, “This delay is occasioned by the fact that we are currently seeking the approval of our primary regulator, the Central Bank of Nigeria for the 2023 full year audited financial statements, following which the said financial statements will then be released to the market.”

PLACE YOUR ADVERT HERE

Popular Related

Lekki Port clears 100, 000 containers in 1 year – LFTZ  

Following the LNG-powered vessel and the largest ship to enter Nigerian water measuring 366 LOA and handled 100, 000 containers between April 2023 and...

VFD Group lists over 63 million additional shares on NGX

On the Nigeria Exchange daily official list, VFD Group has listed an additional 63,342,445 ordinary shares of 50kobo per shares. This was revealed in NGX...

Customs Q1 revenue surpasses N1tn, rice tops N10bn seizures

In the first quarter of 2024 , the Nigeria Customs Service, declared on Wednesday that a 122.35 percent increase while comparing it to the...

Investors lose N252bn on bearish equity trading

As stated by the Nigerian Exchange, stock investors loss hit N252bn After Easter holidays, the market lost about N467bn between Tuesday and Thursday. The bearish trend...

Lagos, other coastal cities risk flooding – CAA

Mrs Grace Mbah, the co-founder and Executive Director of Climate Action Africa, has revealed that coastal cities like Lagos facing the risk of flooding...

FMBN recapitalisation overdue, say operators

Following the high cost of building materials, the Operators in the building environment has noted that the recapitalization of the Federal Mortgage Bank of...

Naira depreciation worsens Nigeria’s foreign debt woes

Nigeria's external debt stock to Foreign countries has experienced an increase of N28trn due to the depreciation of the Nigeria currency against the United...

Shipowners eye foreign partnership for fleet expansion

The Nigeria Indigenous Shipowners Association has signed a Memorandum of Understanding with the foreign counterparts to encourage them to provide more new ships in...

Project Management Institute laments gender disparity

The sub-saharan Africa body of the Project Management Institute has bemoaned the harm of gender disparity on the economies of the sub- region, noting...

FG begs workers as electricity union insists on strike

Following the recent increase on electricity Tariff, the Federal Government has pleaded to member of the National Union of Electricity Employees not to go...