Nigeria’s Biggest Banks Cannot Publish Their Half-Year Accounts Yet
GTCO, Zenith and Access have all pushed back their audited half-year results into the fourth quarter, each citing regulatory approval that has not yet arrived. The post Nigeria’s Biggest Banks Cannot Publish Their Half-Year Accounts Yet appeared first on The Rio Times .
Nigeria's largest banks are facing a publication delay for their half-year accounts. GTCO, Zenith and Access have pushed their audited half-year results to late September or October, with each institution citing regulatory approval as the reason for the extension. GTCO has stated it may file its results by 30 September, while Zenith Bank moved its date to 9 October and Access Holdings to 30 September.
Exchange rules require listed companies to publish unaudited interim figures within 30 days and audited accounts within 60 days of the period end, which typically falls at the end of August. All three banks have received permission to miss the original deadline, indicating that this is an annual pattern rather than a new concern.
The main issue appears to be the delay in obtaining regulatory approval, which is a standard control to ensure provisioning and capital treatment are agreed upon before publication. The banks have not disclosed any disputes or problems with the financial statements, and the Central Bank of Nigeria (CBN) has not provided an explanation for the delay.
This information gap is causing concern for existing investors, as they are now being asked to hold exposure to Nigerian bank results without audited half-year figures until late September at the earliest.
Written by urgent.news from The Rio Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
