African Alliance Insurance Plc has notified its shareholders and other stakeholders that the Company will not be able to file its Unaudited Financial Statements (UFS) for the period ended June 30, 2022 (2022 Q2 UFS) within the regulatory timeline of July 30, 2022.
The Nigerian Exchange Limited (NGX) had on Friday July 1, suspended trading in shares of nine (9) companies (African Alliance Insurance Plc inclusive) for defaulting in filing their audited financial statements for the year ended December 31, 2021.
The insurance company notified investors in its July 14 notice at the Nigerian Exchange Limited (NGX) saying that “This delay is occasioned by the fact that the Company’s Audited Financial Statements (AFS) for the Year ended December 31,2021, and also the 2022 Q1 Unaudited Financial Statements (UFS) for the period ended March 31, 2022 have not been filed, a condition precedent for filing of the 2022 Q2 UFS.”
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“We wish to assure you that the Company is working assiduously towards submitting its 2021 Audited Financial Statements for the Year ended December 31, 2021, 2022 Q1 and 2022 Q2 Unaudited Financial Statements upon receipt of approval of its 2021 Audited Financial Statements from the National Insurance Commission (NAICOM). The Company regrets all inconveniences caused by it delay in releasing the financial statements,” the statement reads.