National Wire About Nigerians, Nigerian Business and Other Stories
The Nigerian Stock Exchange, NSE, has placed the shares of 17 companies on suspension for failing to file their various financial statements as at when due. Most of the companies are in the insurance sector, and are also penny stocks.
The companies include African Alliance Plc, Equity Assurance Plc, Guinea Insurance Plc, Sovereign Trust Insurance, Goldlink Insurance, Great Nigeria Insurance, and Universal Insurance Company Plc.
Others are Fortis Microfinance Bank Plc, Premier Paints Plc, Resort Savings & Loans Plc, African Paints Plc, Aso Savings and Loans Plc, Ekocorp Plc, Evans Medicals Plc, Omatek Ventures Plc, Union Dicon Salt Plc and Union Homes Savings & Loans Plc.
The suspension, according to the NSE, took effect from July 5, 2017 and would be lifted upon the submission of the relevant accounts. Companies listed on the NSE are expected to file their yearly and quarterly financial reports 30 days after the end of the quarter in accordance with the NSE’s post listing rules requirement.
