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African Alliance Insurance gets nod to file financials after regulatory deadline.

African Alliance Insurance pays N6.65bn on claims

African Alliance Insurance Plc has notified its esteemed shareholders and other stakeholders that it will be unable to file the Audited Financial Statements (AFS) for the year ended December 31, 2021 and by extension, the 2022 Q1 Unaudited Financial Statements (UFS) within the regulatory deadlines of 31st March and 30 April 2022 respectively.

The Insurance company said in a statement at the Nigerian Exchange Limited it sought and received an extension of time from Nigerian Exchange Limited (NGX) within which to file the aforementioned financials, adding that it has reached advanced auditing stage of the 2021 AFS, “but reasonably foresees a delay in filing the 2021 AFS as principal officers involved in the account preparation have restricted periods to work and conclude the accounts due to covid-19 related issues”.

The statement signed by Anthonia Udeh, on behalf of : Tope Adebayo & Co, Company Secretary noted that by the time the accounts would have been concluded and forwarded to the Company’s Primary Regulator for approval, the regulatory deadline of March 31, 2022 may have lapsed.

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Likewise, the Company envisages a delay in filing its first quarter (Q1) 2022 Unaudited Financial Statement (UFS) as filing of the AFS with the Exchange is a prerequisite to filing Q1 2022 UFS. Consequently, the Company said it has also requested for and obtained time extension to file its Q1 2022 UFS.

The Company assured its shareholders that it is working assiduously towards submitting its 2021 Audited Financial Statements and Q1 2022 Unaudited Financial Statement within the timeline extended by the Exchange being 29 June 2022 and 29 July 2022 .