CBN extends submission deadline of 2019 audited financial statements for OFIs to July

The Central Bank of Nigeria (CBN) on Friday extended the deadline for the submission of 2019 audited financial statements for Other Financial Institutions (OFIs) to July 31, 2020.

The extension was as a result of the lockdown of most cities in the country due to the coronavirus pandemic, which has restricted the engagement of external auditors and the daily operation of all OFIs across the country.

In a circular signed by Nkiru Asiegbu, director, Other Financial Institutions Supervision department, the CBN said all OFIs are required to submit the 2019 audited financial statements on or before July 31, 2020.

Related News

The circular noted that the CBN would monitor compliance with the extended date and defaulters would be sanctioned accordingly.

Pursuant to the provision of section 27 (1) (a) of BOFIA, all banks and OFIs are required to forward the audited financial statements of each financial year to the CBN for approval before the end of the fourth month following the year to which they relate.

Accordingly, the 2019 audited financial statements should have reached the CBN on or before April 30, 2020.

Hope Moses-Ashike

Hope Moses-Ashike is an Associate Editor, Banking and Finance, with more than a decade of experience reporting on Nigeria’s financial system and broader economy. She closely tracks market movements, monetary policy decisions, company disclosures, regulatory actions, economic indicators, and global developments, and interprets what they mean for businesses, investors, policymakers, and households. Her reporting helps readers understand complex issues such as inflation trends, foreign exchange market dynamics, interest rate decisions, bank performance, and investment risks. She also covers major international events and periodically travels to Washington, D.C., to report on the World Bank/IMF Spring and Annual Meetings. Her dedication to financial journalism has earned her multiple recognitions and invitations to high-level professional development programmes. She is an alumna of the International Visitors Leadership Programme (IVLP) in the United States and holds an Advanced Financial Journalism Certificate from the Press Association Training in London, UK. Her other notable achievements include completing the Lagos Business School CMC Programme, the Bloomberg Media Africa Initiative Programme, and a Master Class in Journalism at Rhodes University in South Africa.