‘Why we missed deadline for filling 2019 financial returns to NSE’
Afsrican Alliance Insurance Plc, has explained why it missed the deadline for filling its 2019 full year financial results to the Nigerian Stock Exchange (NSE) just as it refuted an online media reports (not this medium) that the firm is facing regulatory sanctions and fines as a result of this.
The company in a statement today, titled “Delayed Regulatory Filing: The True Picture” signed by its Brand, Media and Communications Manager, Mr. Bankole Banjo, explained that although they did miss the deadline for filing the returns to the Nigerian Stock Exchange (NSE) but have since requested and received approval for the extension of the deadline.
The firm’s inability to file the returns to NSE, the statement stated, as communicated to the concerned parties in a notice published by two national dailies and on it’s website on Friday, 5 June, 2020 was that the firm was waiting for its 2019 Audited Financial Statements and 2020 1st quarter Unaudited Financial Statements submitted to the industry’s primary regulator, the National Insurance Commission (NAICOM) for approval.
The statement stated in detail: “Our attention has been drawn to a publication by an online medium which purportedly suggests that African Alliance is facing regulatory sanctions and fines for delays in filing its 2019 FY financial results.
“While we would ordinarily ignore such publication on grounds that it is half-truth and unfortunate alarmist headline, we feel it is important we let you, our honourable members of the fourth estate of the realm and respected stakeholders, know the entire truth without prejudice.
“For the records, although African Alliance did miss the deadline for filing its returns to the Nigerian Stock Exchange (NSE) but we have since requested and received approval for the extension of the deadline for the submission of the reports.
“This much and the reason for our inability to file were communicated in a notice published by two national dailies and on our website on Friday, 5 June, 2020.
“For emphasis, we also wish to bring to your notice that our 2019 AFS and 1st quarter UFS have been submitted to our primary regulator (NAICOM) for approval, hence, the delay.
“As we go about our business, we reiterate our unflinching commitment to meeting our responsibilities as due.
“We therefore request your usual support in growing and aiding this business -your business, our business. For us, we are determined to remain with you for life.”
