Some Companies Have 19 Working Days to Submit Their Audited Report and Accounts

News as some companies quoted on the Nigerian Stock Exchange (NSE) have 19 working days to submit their audited report and accounts for the past business year to the regulators and the  investing public.

Post-listing rules at the NSE require quoted companies to submit their earnings reports, not later than three months after the expiration of the business period.

Most quoted companies, including banks, major manufacturers, oil and

gas companies, breweries and cement companies use the 12-month Gregorian calendar year as their business year, which terminates on December 31.

The NSE’s regulatory filing calendar indicates that the deadline for submission of annual report for companies with Gregorian calendar business year is Thursday, March 31, 2016.

The investigation at the weekend indicated that less than five quoted companies have so far submitted their annual reports and accounts, representing less than six per cent of the companies that are required to submit their results under the Gregorian calendar year. The early filers included Forte Oil, Nigerian Breweries, Dangote Cement and Africa Prudential Registrars (APR).