Why eTransact, Niger Insurance Financials Are Delayed 

Yemisi Izuora

eTransact International Plc and Niger Insurance have notified their shareholders of delayed submission of 2020 half-year and second quarter financial statements to the Nigeria Stock Exchange and the Securities and Exchange Commission.

In a statement signed by Mrs Chidinma Onwubere, the eTransact Company Secretary, the delay stemmed from the need of more time for those charged with governance to gather sufficient underlying information in view of making some significant estimates which are significant and material to the unaudited financial statements for the period.

Similarly, Niger Insurance Plc, also informed its shareholders and other stakeholders on the delay of submitting its Q2 financial statements for the period ended June 30, to the NSE by July 30 as required by the regulatory agency.

Mr Tolg Nominees, the Company Secretary said the unintended delay resulted from the inadvertent delay in obtaining the required approval on its Audited Financial Statements for the year ended December 31, 2019 from its primary regulator, National Insurance Commission (NAICOM). Nominees explained that this was a prerequisite for the submission of the completed UFS.

“While we are optimistic that the Audited Financial Statements will soon be submitted to the Exchange once approved by NAICOM to enable the submission of the UFS, the Board and Management of Niger Insurance Plc sincerely apologise for any inconvenience that this delay may cause to its Stakeholders,” he said.

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