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Economy

Oando Shifts Filing of Audited 2023 Results to September 30

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Oando

By Aduragbemi Omiyale

The board of Oando Plc has informed the investing community that its audited 2023 financial statements should be released latest Monday, September 30, 2024.

The energy company had earlier promised to file the results on July 31, 2024, but it explained in a statement issued on Wednesday that the documents were not ready for public consumption.

In the notice signed by its Chief Compliance Officer and Secretary, Mrs Ayotola Jagun, the Mr Wale Tinubu-led organisation also said it would file along with the 2023 results the first and second quarters of 2024 by the end of the third quarter of the year.

“Oando wishes to inform the public and its shareholders that, in accordance with Rule 1.1.4 of the Rules for Filing of Accounts and Treatment of Default Filing, Rulebook of the NGX, the company not having met the statutory deadline for filing its 2023 Audited Financial Statements (2023 AFS) will be unable to meet the expected filing date of July 31, 2024, earlier communicated to the public on April 8, 2024.

“Following the publication of the 2022 Audited Financial Statements in April 2024 and the unaudited financial statements for Q1 – Q4 of 2023 in May 2024, the audit of the 2023 AFS commenced immediately.

“We are committed to finalizing the said audit by August 31, 2024. Subsequently, the 2023 AFS will be presented to the board for approval and submitted to the Financial Reporting Council of Nigeria for regulatory approval before being publicly released.

“In accordance with the extension applied for and granted by the NGX, the company expects to publish its 2023 Audited Financial Statements and Q1 and Q2 2024 Management Accounts by Monday, September 30, 2024, thereby bringing up to date all its outstanding financial reporting obligations.

“Oando PLC apologizes for any inconvenience caused by this delay and will keep the market informed of any updates regarding the current situation,” the disclosure said.

Aduragbemi Omiyale is a journalist with Business Post Nigeria, who has passion for news writing. In her leisure time, she loves to read.

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Economy

SEC Postpones Q2 2026 Pre-registration Training, Examination for CMOs

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capital market operators

By Aduragbemi Omiyale

The pre-registration training and examination for capital market operators (CMOs) for the second quarter of 2026 has been postponed.

Business Post gathered that the new date for the exercise is now Monday, June 15, 2026.

This information was disclosed by the Securities and Exchange Commission (SEC) through a circular on Monday, June 8, 2026.

The Nigerian capital market regulator stated that this postponement has also resulted in the extension of the deadline for registration to Friday, June 12, 2026.

In the notice today, the SEC expressed its regret for the inconvenience this action may cause operators, who had prepared for the initial date of the training and examination.

“Further to the recent circular on Q2 2026 Pre-registration Training and Examination, the Securities and Exchange Commission (SEC) hereby informs all eligible applicants for the Q2 2026 Pre-registration Training and Examination that the commencement date has been postponed to Monday, June 15, 2026.

“Registration on the designated portal has also been extended to Friday, June 12, 2026. All other conditions contained in the circular remain unchanged.

“The commission regrets any inconvenience this postponement may cause and appreciates the understanding of all applicants,” the disclosure noted.

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Economy

Fidson Lists Additional 600 million Shares on Stock Exchange

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fidson

By Aduragbemi Omiyale

One of the leading healthcare firms in Nigeria, Fidson Healthcare Plc, has listed additional shares on the Nigerian Exchange (NGX) Limited.

The new stocks absorbed into the stock market were 600 million units, raising the total issued and fully paid-up shares of Fidson to 3,000,000,000 ordinary shares of 50 Kobo each from 2,400,000,000 ordinary shares of 50 Kobo each.

The fresh equities came from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share.

They were issued to existing investors on the basis of one new ordinary share for every existing four ordinary shares held as of the close of business on Wednesday, November 12, 2025.

Confirming the development, the regulator in a notice said, “Trading licence holders are hereby notified that an additional 600,000,000 ordinary shares of 50 Kobo each of Fidson Healthcare Plc were on Tuesday, June 2, 2026, listed on the daily official list of Nigerian Exchange Limited.

“The additional shares arose from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share on the basis of one new ordinary share for every existing four ordinary shares held as at the close of business on Wednesday, November 12, 2025.

“With the listing of the additional 600,000,000 ordinary shares, the total issued and fully paid-up shares of Fidson Healthcare Plc have now increased from 2,400,000,000 to 3,000,000,000 ordinary shares of 50 Kobo each.”

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Economy

FG Approves Payments to 1,240 Contractors to Ease Liquidity Pressure

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FG contractors protest

By Modupe Gbadeyanka

This news will surely excite local contractors with verified claims of N100 million or less, as the federal government has approved their payments.

This approval for the disbursement was given by the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele.

This followed a verification and reconciliation exercise designed to ensure only validated claims qualify for payment.

The beneficiaries cover contractors across multiple ministries, departments and agencies. The release of the funds is expected to enable contractors to return to project sites, pay workers, settle suppliers and meet outstanding financial commitments.

In an announcement on Monday, the Federal Ministry of Finance also said this latest batch of payments would ease liquidity pressure on small businesses and accelerate economic activity nationwide.

It was noted that the payments for verified claims of N100 million below were strategically done to spread economic impact broadly rather than concentrate disbursements among a handful of large firms.

The payments form part of a broader push to clear inherited contractor obligations, with over N700 billion verified in recent months.

“For many beneficiaries, the release of funds represents more than a financial transaction. It provides the certainty needed to sustain operations, preserve jobs, complete ongoing projects, and contribute to economic recovery and growth,” the ministry said in a statement.

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