FBN Holding Plc sets May 30 deadline for FY’2023 and Q1’2024 reports

Date:

May 16, 2024.

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Azonuchechi Chukwu.

FBN Holding Plc has said that it plans to publish both its full-year 2023 annual financial statement and first quarter 2024 unaudited financial statement on or before May 30, 2024.

This was contained in the company’s notice to the Nigerian Exchange Limited (NGX)

According to the notice, the group expects that during the period, necessary approval would have been obtained from its primary regulator.

The statement noted that the delays were due to the inability to finalize the audited financial statements (FY’2023 AFS) of the group for the year ended December 31, 2023.

The statement reads:

“FBN Holdings wishes to notify the Nigerian Exchange Limited (NGX) and the investing public that the company is yet to publish its unaudited financial statements for the first quarter ended March 31, 2024 (Q1 2024 UFS) by April 30, 2024, as required under the rules of the NGX.

This is due to the delays in finalizing the audited financial statements (FY’2023 AFS) of the group for the year ended December 31, 2023.

FBNH plans to publish both the FY’2023 and the Q1 2024 UFS on or before May 30, 2024, by which time, we expect that the necessary approval would have been obtained from the primary regulator”.

Reports revealed that among tier-one banks, including Access Holdings Plc, GTCO Plc, FBNH Plc, UBA Plc, and Zenith Bank Plc, only FBNH has yet to release its full-year and first-quarter results within the required timeframe.

While no official reasons have been provided for the delay in finalizing the audited financial statements, speculation suggests a possible connection to the recent resignation of Adesola Adeduntan, former Managing Director of First Bank of Nigeria Limited.

In response to these developments, the Group opted to cancel its extraordinary general meeting (EGM) initially slated for Tuesday, April 30, 2024, which was intended to seek shareholders’ approval for raising an additional N300 billion in capital. (www.naija247news.com).


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Azonuchechi Chukwu
Azonuchechi Chukwuhttps://gravatar.com/azonuchechivchukwu
Azonuchechi Chukwu - Business Journalist at Naija247news.com Azonuchechi Chukwu is a seasoned business journalist contributing to the insightful coverage of economic and financial news at Naija247news.com. With a passion for unraveling the complexities of the business world, Azonuchechi brings a wealth of expertise and dedication to his role. As a Business Journalist, Azonuchechi specializes in providing comprehensive analyses of market trends, corporate developments, and economic indicators. His in-depth reports offer Naija247news.com readers a nuanced understanding of the forces shaping the Nigerian and global business landscapes. Azonuchechi Chukwu's commitment to journalistic excellence is evident in his ability to translate complex financial information into accessible and engaging narratives. Whether exploring stock market fluctuations, corporate strategies, or economic policies, he strives to deliver content that empowers readers with valuable insights. With an educational background in business and a keen interest in the intersection of finance and technology, Azonuchechi stays at the forefront of industry dynamics. His coverage extends beyond traditional financial reporting, encompassing the dynamic realms of fintech, entrepreneurship, and sustainable business practices. Azonuchechi Chukwu's work goes beyond the surface, aiming to foster financial literacy and awareness among Naija247news.com's audience. By demystifying economic complexities and shedding light on emerging opportunities, he plays a pivotal role in keeping readers well-informed in the fast-paced world of business. As Naija247news.com's Business Journalist, Azonuchechi Chukwu continues to make meaningful contributions to the platform's mission of delivering timely, accurate, and relevant business news to its diverse audience. His dedication to journalistic integrity and his ability to navigate the intricacies of the business realm make him an invaluable asset to the Naija247news.com team.

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