Mutual Benefits to file 2016 result after March deadline
Mutual Benefit Assurance company Plc has revealed that the company will not be able to meet deadline for filing audited results for the 2016 financial year ended 31 December and has communicated same to the Nigerian Stock Exchange ( NSE) as well as the investing public.
In a publication released on behalf of the company by the NSE, signed by, Jide Ibitayo, Chief compliance officer, Mutual Benefits, the company said “ this is to inform our valued shareholders ,investing public and key stakeholders that we will be unable to meet the deadline for filling our 2016 audited financial statements in line with listing rules of the Exchange.”
According to the company, its board met on 20th March and gave approval to the financial statements which has since been submitted to the National Insurance commission (NAICOM) for regulatory endorsement which may not be achieved before 31 March 2017.
Mutual Benefits Assurance Plc (MUTUAL), has evolved into a conglomerate consisting of value-adding companies with diverse interests in various sectors of the Nigerian economy through investments, strategic alliances and partnerships.
Meanwhile, Mutual Benefits Assurance Plc recently announced that it has taken steps to investigate and charge perpetrators of alleged fraudulent practices recently uncovered in the company.
Head, Corporate Communications, Mutual Benefit Assurance, Ellen Offo, in a recent statement said their attention had been drawn to an online publication of the unethical practices going in the company, saying the matter allegations are being investigated.
Offo said: “Our attention has been drawn to an online publication alleging unethical practices going on in Mutual Benefits. While there was no mention of any specific member of staff in the report, we do commiserate with the customers involved and we have taken immediate steps to investigate and urgently look into the issues raised in the report. We use this medium to assure our numerous customers that we shall prosecute anyone found to be complicit.”
According to her, as deterrence, Mutual Benefits has instituted a policy against payment of cash to members of staff, adding that the accepted mode of payment is clearly stated on all proposal forms of the company and policy documents.
She said, Mutual Benefits, has put in place secure and convenient cashless means of payment of premium such as direct debit, bank branch pay-direct, web-pay, online transfer, along with its third party insurance scratch cards.
According to her, the company has operated for over 21 years in the insurance landscape as a leading brand in the Nigerian Insurance sector with a reputation for speedy claims settlement and excellent service delivery.
“Mutual Benefits is strong, well-capitalized and committed to protecting the interests of our customers at all times. Between January and February this year, claims paid are in excess of N3 billion, while over N50 billion was paid as claims settlement between 2012 and 2016 across our business lines. This is a testimony of the value we place on our customers and their needs,” Offo said.
