The company has requested and was granted a 30-day extension by the Nigeria Stock Exchange to submit the accounts on or before April 30, 2017
According to the statement signed by Tijani M Borodo, the Company Secretary and sent through the trading floor of the Nigerian Stock Excahnge to investing public, diclosed the reason for the delay is purely due to the peculiar of FBNH’s Group structure. The release noted that FBNH has subsidiary companies operating in the Banking and Insurance sectors as well as the Capital Market, all with a common financial year end of December 31alongside the holding company.
“Each of these subsidiaries needs to audit its financial statements and obtain the approval of its respective regulator prior to submission to FBNH for consolidation. Thereafter, FBNH is also required to obtain the approval of its primary regulator before submission and filling with the Commission” the company explained.