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Coronavirus: NSE begins remote trading

...extends time to file full year financials ...grants 60 days grace period to issuers

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.

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

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