The Nigerian Stock Exchange (NSE) will on March 24 begin remote trading as the Coronavirus Pandemic spreads rapidly to 36. With this development, stocks trading on the Nigerian Bourse will be done by dealing members at the comfort of their homes, leveraging technology.

The NSE also said that it extended the time to file audited financial Statement for the year ended December 31, 2019.

In the Nigerian Stock Exchange’s (The Exchange) Circular of 19 March 2020, with reference number
NSE/RD/LRD/CIR4/20/03/19 listed Companies were advised on measures to put in place for the
conduct of their Annual General Meetings (AGM) due to the Coronavirus (COVID-19) outbreak.

Further to the said Circular, The Exchange said it understands that some of the internal governance, auditing and other procedures and processes of listed companies may have been disrupted by COVID-19.

Related News

Therefore, The Exchange is granting listed companies a sixty (60) day grace period for the submission of their Audited Financial Statements for the year ended 31 December 2019 (AFS), which are due to The Exchange on Monday, March 30, 2020.

During this period, there will be no sanctions for companies that are unable to file the AFS.

 

Iheanyi Nwachukwu

More from our Markets Column
Read Next

FG reverses decision to ban cargo flights after BusinessDay’s report

By Ifeoma Okeke-Korieocha • March 23, 2020

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.

Join BusinessDay whatsapp Channel, to stay up to date

Open In Whatsapp