More big cooperations in Nigeria are failing to report there H1 202 Audited result on time and this should be a big concert for Nigerian stock exchange investors. These reports are in place for companies that seek money from the public to be transparent. but when they are not transparent and are not reporting on time.
This may encourage the mismanagement of public funds and as a result, lead to a lack of accountability. All of these will hurt the Nigerian stock exchange investors as these companies can do whatever they want when there is a lack of regulation enforcement.
Although there are penalties in place for not meeting or submitting the HI Audited result on time, these companies do not care.
"“This is to inform The Nigerian Stock Exchange as well as our Esteemed Stakeholders that we are experiencing a slight delay in the release of the 2020 Half Year Audited Financial Statements for Stanbic IBTC Holdings PLC (“Stanbic IBTC”). This delay is occasioned by the fact that we are currently seeking the approval of our primary Regulator, the Central Bank of Nigeria (“CBN”) for the Half Year Audited Financial Statements, following which the said Financial Statements will then be released to the Market.”
“We are working diligently to ensure that our Company’s 2020 Half Year Results are published on or before Friday 25 September 2020.”