eTransact, Niger Insurance notify shareholders of delayed submission of financials

eTransact International Plc has notified shareholders of delayed submission of its 2020 half-year (H1) and second quarter financial statements to the Nigeria Stock Exchange and the Securities and Exchange Commission.

This is contained in a statement signed by Mrs Chidinma Onwubere, the Company Secretary and made available to our reporter on Monday in Lagos.

According to Onwubere, the delay stemmed from the need of more time for those charged with governance to gather sufficient underlying information in view of making some significant estimates which are significant and material to the unaudited financial statements for the period.

“In the light of this, we expect to obtain more comfort based on the outcome of our engagement with specialists.

“We sincerely apologize for any inconvenience caused and we are committed to ensure the submission of the unaudited Financial Statements to The Exchange on or before September 30, 2020,” she said.

In a related development, Niger Insurance Plc, also informed its shareholders and other stakeholders on the delay of submitting its Q2 financial statements for the period ended June 30, to the NSE by July 30 as required by the regulatory agency.

Mr Tolg Nominees, the Company Secretary said this in a statement made available to our reporter.

This unintended delay resulted from the inadvertent delay in obtaining the required approval on its Audited Financial Statements for the year ended December 31, 2019 from its primary regulator, National Insurance Commission (NAICOM).

Nominees explained that this was a prerequisite for the submission of the completed UFS.

“While we are optimistic that the Audited Financial Statements will soon be submitted to the Exchange once approved by NAICOM to enable the submission of the UFS, the Board and Management of Niger Insurance Plc sincerely apologise for any inconvenience that this delay may cause to its Stakeholders,” he said.