Skye Bank says late filing of financial statement for 2016

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Skye bank plc in an email message to The Nigerian Stock Exchange (NSE), its esteemed shareholders and other stakeholders of the bank that the Audited Financial Statement of Skye Bank Plc for the year ended 31 December 2016 will not be filed by 31 March 2017 as required by the rules of The Nigerian Stock Exchange.

Following the intervention of the Central Bank of Nigeria’s (CBN) in the Bank in July 2016, there was an over-haul of the Bank’s Corporate Governance framework which led to major resignations and new appointments into the Board; changes in specific internal structures and the need to have in place some other structures prior to the approval of the Bank’s accounts. This led to the conduct of an interim audit of the Bank’s half year accounts of 2016.

As a result of these restructures and changes, the Bank is currently experiencing some delays with the completion of the audit exercise of its Audited Financial Statement (AFS) for the year ended 31 December 2016.

The 2016 Audited Financial Statements which is already with the CBN for its review and regulatory approval; and the quarterly returns for 2016 would be filed on or before Friday, 12 May 2017.

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