• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Companies Company News

Afromedia Plc says will not meet deadline for filing financial statement due to court order

Chris Ugwu by Chris Ugwu
March 21, 2023
in Company News, Sectors
Afromedia: Something Disturbing Has Just Been Spotted in Their 2015 FY results
Share on FacebookShare on TwitterShare on Linkedin

Key Highlight

  • They will fail to meet the deadline of 31st March 2023 required to file the Audited Financial Statements for the year ended 31st December 2022 (2022 AFS) and the 1st quarter of 2023 as a result of a court order.
  • A Garnishee Order Nisi was given against the Company which resulted in all its bank accounts being frozen.
  • The Company has appealed the Order and is hopeful that the Garnishee Order would be vacated.

Afromedia Plc has said it will be unable to meet the deadline of 31st March 2023 when it is required to file its audited financial statements for the year ended 31st December 2022 due to a court that froze its bank accounts.

This was disclosed in the company’s notice to the Nigerian Exchange, a copy of which was obtained by Nairametrics.

Afromedia is unable to meet NGX’s listing rules

According to the statement signed by Lexworth Legal Partners, Company Secretary, the company said that it will be unable to file its FY 2022 and Q1 2023 financial statements, in order to the listing rules of the Nigerian Exchange.

RelatedStories

Afromedia: Something Disturbing Has Just Been Spotted in Their 2015 FY results

Afromedia announces appointment of new directors 

September 14, 2019

It explained that on the 8th of December 2022, a Garnishee Order Nisi was given against the Company which resulted in all its bank accounts being frozen and funds therein rendered inaccessible.

The Company said it has appealed the Order and is hopeful that the Garnishee Order would be vacated with dispatch.

  • “However, due to this Order, the Company is unable to fulfil its financial obligations towards the preparation of its Audited Financial Statements as well as prepare for its Annual General Meeting within the period stipulated by regulation,” it stated.

The Company stated that it shall file the 2022 Audited Financial Statements and the Unaudited Financial Statements for the first quarter of 2023 on or before the 29th of June 2023 and the 29th of July 2023 respectively.

  • “The inconvenience occasioned by the delay to all stakeholders is deeply regretted,” the company said.

What you should know about garnishee order

Garnishee proceedings are simply a judicial process of execution or enforcement of the monetary judgment by the seizure or attachment of the debts due or accruing to the judgment debtor which form part of his property available in execution.

 By this process, the court has the power to order a third party to pay directly to the judgment creditor the debt due or accruing due from him to the judgment debtor, as much of it as may be sufficient to satisfy the amount of the judgment and the cost of the garnishee proceedings.


Follow us for Breaking News and Market Intelligence.
Tags: Afromedia
Chris Ugwu

Chris Ugwu

Chris is a Senior Financial Analyst at Nairametrics Advocates Limited with over a decade stint in active journalism and public relations practice.

Related Posts

Afromedia: Something Disturbing Has Just Been Spotted in Their 2015 FY results
Appointments

Afromedia announces appointment of new directors 

September 14, 2019
Next Post
Gini Coefficient Shows Progress in Nigeria's Wealth Distribution Under Democracy

Gini Coefficient shows progress in Nigeria's wealth distribution under democracy

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank








DUNS

Recent News

  • Larry Ellison, Jensen Huang are $11.6 billion richer in 24 hours 
  • Appeal Court reverses N579bn Stamp Duty payment to Kasmal Services in CBN’s favor 
  • NDPC urges Court to dismiss Meta’s suit over $32.8 million data privacy sanction 

Follow us on social media:

Recent News

Billionaire and Oracle co-founder, Larry Ellison

Larry Ellison, Jensen Huang are $11.6 billion richer in 24 hours 

July 16, 2025
FCT High Court, Benjamin Joseph, zinox

Appeal Court reverses N579bn Stamp Duty payment to Kasmal Services in CBN’s favor 

July 16, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 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
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics