Ecobank’s delayed result submission blamed on late filing, Bank clarifies
Ecobank Nigeria Plc has retracted its earlier submission on cause of its late submission of 2016 audited financial statement for the period ended 31 December 2016.
In a publication by the Nigerian Stock Exchange (NSE) on Thursday titled “Erratum to Ecobank Announcement Regarding Delay to Publishing of Year Ended 31 December 2016 Results Lomé” dated 6 April 2017, and signed by Greg Davis, Group Chief Financial Officer, the bank said that, ”Ecobank Transnational Incorporated (ETI) wishes to clarify the announcement on the delay to results made on 31 March 2017”
The bank explained that, the delay on account of awaiting regulatory approval for the release of results for the subsidiary of Ecobank Nigeria is not by any way the fault of the Central Bank of Nigeria.
The delay of the regulatory approval is due to the late submission of the year ending 2016 Financial Statements by Ecobank Nigeria.
The bank explained that, the submission of its result to the Central Bank of Nigeria (CBN) was made on 3 April 2017, as it however apologized to the regulatory bodies. “We apologies to the regulatory bodies that this was not clear in the original announcement.
The bank further apologizes for any inconvenience caused, assuring that the financial institution will update the market in due course, following with an analysts and investor conference call to discuss the financial results.
