NPFMCRFBK Notifies of Delay in filing its 2018 Audited Financial Statement

Proshare

Monday, March 04, 2019 05:41PM / NSE

 

NPF Microfinance Bank Plc, wishes to notify The Nigerian Stock Exchange and our esteemed shareholders/investing public that the Bank will be unable to file her Audited Financial Statements for Year-end 31st December, 2018 before the regulatory deadline of 31st March, 2019.

The delay is as a result of the challenges that have arisen with the newly acquired core Banking Software (T24) test run under the National Association of Microfinance - Banks Unified Integration Platform (NAMBUIT) project of the Central Bank of Nigeria (CBN), our Bank having been nominated by the CBN for the pilot program on the software by reason of our leading position in the Microfinance space.

Although, most of the challenges have been resolved and the Audit commenced timely after the Year-end however the audit completion would not meet the deadline due to the difficulties in spooling the necessary reports in the format required by the audit team.

The Bank in conjunction with the software provider (Inlaks) is making serious efforts to resolve this issue in order to ensure that all that the auditors require to conclude the Audit is provided and we are glad to report that there is tremendous progress in this regard.

We wish to assure the entire public, our stakeholders, investors and regulators that the audited financial statement will be released on or before 30th April, 2019. We apologise for any inconveniences this may occasion and we have duly notified the CBN of the progress so far. An extension of time has been sought from The Exchange to allow for the late filing for the reasons advanced.



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