WAPIC Notifies of Late Filing of the Company’s 2018 AFS

Proshare

Monday, April 1, 2019 12:58PM / NSE

 

This is to inform our valued shareholders and general public that Wapic Insurance Plc will not be able to file its Audited Financial Statements for the year ended December 31st 2018 within the stipulated time of March 31st 2019 as required under the rules of the Nigerian Stock Exchange (Exchange or NSE).

This is attributed to the delayed submission by the Company of its Audited Financial Statements for the year ended December 31st 2018 to the National Insurance Commission (NAICOM) as a result of the adoption by Wapic Insurance Pic of IFRS 9 on financial instruments and IFRS 4 (as amended for insurance contracts) in compliance with the directive of the National Insurance Commission.

In the light of this development, we sincerely apologize for the delay and confirm our commitment to the filing of the Audited Financial Statement of Wapic Insurance Plc for the year ended December 31st 2018 not later than June 30th 2019.



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