Recently, the NGX Regulation Limited placed sanctions on firms like Presco Plc, eTranzact International Plc, NCR (Nigeria) Plc, African Alliance Insurance Plc, ABC Transport Plc, and PZ Cussons Nigeria Plc for failing to file audited and interim accounts for years 2023 and 2024.
According to the Nigerian Exchange Limited (NGX), all listed companies must provide accurate data to maintain an orderly market.
This comes after the local stock market experienced a bearish trend, leading to a poor start to the week. Selloffs on Airtel Africa Plc and 17 others lowered the overall capitalization by N500 billion.
ABC Transport Plc paid N3.2 million of shareholders' money as a penalty for failing to file audited accounts. The company filed its full-year 2023 results on May 1, 2024. Presco Plc was fined N3.2 million for neglecting to submit its 2023 Annual Financial Statement for the year that concluded on December 31, 2023.
According to the NGX RegCo, it has imposed sanctions on these businesses and others that abide by the Issuers' Rules and the NGX Rulebook's Rules for Accounts Filing and Default Filing Treatment.
Companies listed on the NGX must file their quarterly accounts within 30 days of the end of the quarter per the Rules for Filing of Accounts and Treatment of Default Filing, Rulebook of NGX (Issuers' Rules).
Click link to read full News: https://www.investingport.com/ngx-p...co-african-alliance-insurance-plc-and-others/
According to the Nigerian Exchange Limited (NGX), all listed companies must provide accurate data to maintain an orderly market.
This comes after the local stock market experienced a bearish trend, leading to a poor start to the week. Selloffs on Airtel Africa Plc and 17 others lowered the overall capitalization by N500 billion.
ABC Transport Plc paid N3.2 million of shareholders' money as a penalty for failing to file audited accounts. The company filed its full-year 2023 results on May 1, 2024. Presco Plc was fined N3.2 million for neglecting to submit its 2023 Annual Financial Statement for the year that concluded on December 31, 2023.
According to the NGX RegCo, it has imposed sanctions on these businesses and others that abide by the Issuers' Rules and the NGX Rulebook's Rules for Accounts Filing and Default Filing Treatment.
Companies listed on the NGX must file their quarterly accounts within 30 days of the end of the quarter per the Rules for Filing of Accounts and Treatment of Default Filing, Rulebook of NGX (Issuers' Rules).
Click link to read full News: https://www.investingport.com/ngx-p...co-african-alliance-insurance-plc-and-others/