Stock & Analyst Updates | |
Stock & Analyst Updates | |
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Friday, 06 April 2018 02.52 PM / Saheed Kiaribe, Proshare Research
FEDELITYBK
Reason: Delay In Audit Process
Delays in concluding the audit process.
DIAMONDBNK
Reason: Uncompleted Review of Financials by Central Bank.
STERLNBANK
Reason: Awaiting Regulatory Approval.
Bank is awaiting regulatory approval from the Central Bank of Nigeria.
UBN
Reason: Incomplete Finalization of Audited Account.
Ongoing finalization of the Bank’s audited accounts with regulators and external auditors.
UNITYBNK
Reason: Uncompleted Review of Financials by Central Bank..
Accounts forwarded to the CBN for review and will be filed with the NSE upon the conclusion of CBN’s review.
SKYEBANK
Reason: CBN Intervention
WEMABANK
Reason: Awaiting Necessary Regulatory Approvals
· Date of Notice: April 06, 2018
· Related News: Wema Bank Plc Announces Delay in Filing FY 2017 Financial Statements
· Last Declared Financial Results: WEMABANK Declares N1.53 billion PAT in Q3 2017 Result ...
· Anticipated Date of release: On or before April 30, 2018.
INSURANCE SECTOR
AIICO
Reason: Uncompleted Review of Financials by NAICOM.
Optimistic the regulator will conclude the review of the accounts
GUINEAINS
Reason: Uncompleted Review of Financials by NAICOM.
Submitted the company’s audited financial statements, thus awaiting National Insurance Commission’s approval.
STACO
Reason: Recently Concluded Audit Exercise.
Just concluded the audit exercise and account will be forwarded to the National Insurance Commission for approval.
CORNERST
Reason: Unforeseen Delay in Audit Process
EQUITYASUR
Reason: Awaiting Regulatory Approval
The filing of the Audited Financial Statement is premised on the approval of the National Insurance Commission.
OTHER SECTORS
OANDO
Reason: Statutory Review by FRCN
FRCN indicated interest in undertaking a more detailed review of the Company’s Audited Financial Statements as part of their statutory review due to the issues raised by the recent investigation of the Company by the Securities and Exchange Commission.
MEYER
Reason: Legacy Reconciliation Issue.
Board mindful of the critical need to properly resolve the reconciliation issues in order to present accurate audited financial statements.
WAPCO
Reason: Incomplete Audit Exercise.
Delay was to enable auditors complete their work.
ABBEYBDS
Reason: Awaiting Regulatory Approval.
Audited Financial Statements released by auditors on 28th March, 2018 and submitted to the Central Bank of Nigeria same day for approval.
MULTIVERSE
Reason: Accounts Review by FRCN Needed
Review of the Financial Reporting Council of Nigeria (FRCN) needed because of Material Uncertainty Relating to Going Concern.
PRESCO
Reason: Biological Assets Valuation
Delay is as a result of issues relating to biological assets valuation.
Reason: Information Technology (IT) Platform Upgrade
• Date of Notice: April 06, 2018
• Related News: A.G. Leventis Nigeria Plc Announces Delay in Filing FY 2017 Financial Statements
• Anticipated Date of release: On or before April 30, 2018.