By Rukayat Adeyemi
Zenith Bank Plc. on Thursday expressed optimism that it would submit its 2023 full-year audited financial statement to the Nigerian Exchange Ltd. (NGX) on or before April 30.
The Company Secretary, Zenith Bank Plc., Mr Michael Otu, stated this in a notification sent to the NGX in Lagos.
Companies listed on NGX are required to file their financial statements within 60 days of a year-end.
This is in line with the Securities and Exchange Commission’s (SEC) directives and NGX RegCo’s Circular on the filing of fourth quarter unaudited financial statements.
Specifically, companies with a year-end date of Dec. 31 of any year should file their accounts on or before March 1 of the next year.
However, this rule comes with some exceptions, especially for commercial banks.
Otu said that the bank’s 2023 financial statement would be submitted to the NGX after receipt of approval by the Central Bank of Nigeria (CBN).
He stated that the bank had submitted its audited financial statements and accounts to CBN for final approval.
According to him, Zenith Bank envisaged a delay due to the fact that it recently concluded the component audit of its subsidiary companies.
“We have communicated this to the Securities and Exchange Commission (SEC) and NGX for extension of the time within which the bank will publish the audited financial statements for the year ended Dec. 31, 2023.
“The extension is to enable the bank to receive all outstanding regulatory approvals relating to the component audit of the subsidiary companies,” he said. (NAN)
Edited by Ijeoma Popoola
