• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Industries Company News

Guinea Insurance and Fortis Microfinance bank say late results not their fault

Onome OhwovoriolebyOnome Ohwovoriole
6 years ago
in Company News, Stock Market
Guinea Insurance and Fortis Microfinance bank say late results not their fault
Share on FacebookShare on TwitterShare on Linkedin

Two of the 17 companies that were recently suspended by the Nigerian Stock Exchange (NSE) for late submission of results have blamed their primary regulators the Central Bank of Nigeria (CBN) and National Insurance Commission (NAICOM) for not submitting their results on time. This excuse is however not tenable. Regulators do not gain anything from delaying results. The defense being put up by the companies, hold very little weight.

Excuses are not tenable

Both companies did not state when they submitted their results to NAICOM and CBN for approval. Were the results presented in the approved format ? Do they contain key information required by regulators. Several firms operating in that same sectors have established a tradition of submitting their results on time, to the point that investors can predict the exact month results are released for several years running. How are these firms able to do so? Results are most often delayed when they are very poor. Companies may have to consider querying staff who do not submit results on time.

How to prevent late submission

Regulators, also need to work together to achieve prompt verification of results. There may be need to form a joint committee comprising all regulators, to screen these results so they can be approved on time. Shareholders of these companies must mount pressure on management to sit up, or they will continue to bear the brunt of fines imposed by regulators.

Related

Tags: Fortis MicrofinanceGuinea insuranceNews Review

Leave a Reply Cancel reply

hfm
UBA
Mega Millions
Mega Millions
fidelity banner
HFM
webinar







NM newsletters

Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

Recent News

  • Patricia suffers massive losses in crypto assets after security breach
  • From the Garden City to New York; How Mr Eazi made it
  • Buhari says Nigeria’s stock of infrastructure to GDP doubled to over 40%

Follow us on social media:

Recent News

Patricia

Patricia suffers massive losses in crypto assets after security breach

May 28, 2023
From the Garden City to New York; How Mr Eazi made it

From the Garden City to New York; How Mr Eazi made it

May 28, 2023
  • Download Nairametrics iOS App
  • Download Nairametrics Android App
  • Home
  • Exclusives
  • Markets
  • Industries
  • Economy
  • Business News
  • Financial Literacy
  • Opinions

© 2023 Nairametrics

No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
  • Login
  • Sign Up
  • Cart

© 2023 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In