The Nigerian Stock Exchange on Tuesday suspended trading in the shares of 11 companies over delayed filing of accounts.
Godstime Iwenekhai, NSE Head, Listings Regulation Department, stated this in a statement obtained by the News Agency of Nigeria in Lagos.
Iwenekhai said that the affected companies were: Conoil, FTN Cocoa Processors, Goldlink Insurance, Lasaco Assurance, Niger Insurance and R.T. Briscoe.
Others are: Resort Savings & Loans, Royal Exchange, Standard Alliance Insurance and Universal Insurance.
He said that the suspension was in accordance with Rule 3, 1, Rules for Filing of Accounts and treatment of default filing, and Rulebook of The Exchange.
He said: “If an Issuer fails to file the relevant accounts by the expiration of the Cure Period, The Exchange will: (a) Send to the Issuer a “Second Filing Deficiency Notification” within two business days after the end of the Cure Period.
“The exchange will after the Cure suspend trading in the Issuer’s securities; and notify the Securities and Exchange Commission and the market within 24 hours of the suspension.
“In accordance with the rules set forth above, the suspension of the above-listed companies will only be lifted upon the submission of the relevant accounts and provided The Exchange is satisfied that the accounts comply with all applicable rules of The Exchange.”
Trending
- We’re not afraid to enforce our environmental laws — Lagos
- Deputy Vice Chancellor sacked over false petition
- JUST IN: Tinubu confers GCON on Awujale as he celebrates 90th birthday
- Motorcyclist arrested for raping female passenger in Ogun
- Deputy Vice Chancellor sacked over alleged false petition
- Court charges anti-Tinubu protester with inciting disturbance
- Even if arrest warrant was illegally obtained, Bello should appear in court — Judge
- Court charges anti-Tinubu protester with inciting disturbance