• Advertise
  • Opinion
  • Features & Interviews
  • Investigation
  • Contact
Monday, October 2, 2023
  • Login
No Result
View All Result
NEWSLETTER
The Lagos Today
  • Home
  • News
    • Lagos News
    • National News
    • World News
  • Entertainment⚡ by CRAWL
    • All
    • Art & Design
    • Books
    • Movie
    • Music
    • Sports
    Kenya, Uganda, and Tanzania named Joint Hosts of AFCON 2027 as Nigeria loses bid

    Kenya, Uganda, and Tanzania named Joint Hosts of AFCON 2027 as Nigeria loses bid

    ‘The Black Book’ becomes 1st Nollywood Movie to rank number 1 Globally on Netflix

    ‘The Black Book’ becomes 1st Nollywood Movie to rank number 1 Globally on Netflix

    I’m not involved in Mohbad’s Death, Naira Marley insists

    I’m not involved in Mohbad’s Death, Naira Marley insists

    Nigeria’s Sports Minister arrives Egypt to bid for hosting AFCON 2027

    Nigeria’s Sports Minister arrives Egypt to bid for hosting AFCON 2027

    Tears as Nigerian Singer, Mohbad, is laid to rest in Lagos

    Mohbad: Reps mourn Late Musician

    Adesanya faces Three Months in Jail over Drunk Driving in New Zealand

    Adesanya faces Three Months in Jail over Drunk Driving in New Zealand

    Nigeria wins 12 Gold Medals at 2023 ITTF African Para Championships 

    Nigeria wins 12 Gold Medals at 2023 ITTF African Para Championships 

    Tears as Nigerian Singer, Mohbad, is laid to rest in Lagos

    Mohbad’s Autopsy completed- Lagos Police

    Police exhumes Body of Mohbad for Autopsy

    Police exhumes Body of Mohbad for Autopsy

    Tears as Nigerian Singer, Mohbad, is laid to rest in Lagos

    Why we buried Mohbad quickly on his only land- Mohbad’s Father

  • Opinion
  • Business
  • Features & Interviews
  • Best Of Lagos
    Lagos welcomes The Art hotel: A flamboyant 5 star Business Boutique Hotel

    Lagos welcomes The Art hotel: A flamboyant 5 star Business Boutique Hotel

    THE LUXURY NETWORK NIGERIA ANNOUNCES NEW MEMBER, AFFINITY ART GALLERY

    THE LUXURY NETWORK NIGERIA ANNOUNCES NEW MEMBER, AFFINITY ART GALLERY

    THE LUXURY NETWORK NIGERIA HOSTS MEMBERS’ NETWORKING FORUM

    THE LUXURY NETWORK NIGERIA HOSTS MEMBERS’ NETWORKING FORUM

    Exploring Lagos’ Gastronomy With Chef Priyank Singh of Hard Rock Cafe

    Exploring Lagos’ Gastronomy With Chef Priyank Singh of Hard Rock Cafe

    Olu Oyinsan- Saying Yes To Founders At The Early Stage

    Olu Oyinsan- Saying Yes To Founders At The Early Stage

    A Rare Hobby: Sports Fishing In Lagos

    A Rare Hobby: Sports Fishing In Lagos

    Chef Nkesi- Experiencing Different Cultures Through Food

    Chef Nkesi- Experiencing Different Cultures Through Food

    Wumi Jubril: Creating Memorable Experiences

    Wumi Jubril: Creating Memorable Experiences

    Nordic hotel

    Nordic Hotel Makes Grand Debut in Lagos

  • Things To Do
  • Home
  • News
    • Lagos News
    • National News
    • World News
  • Entertainment⚡ by CRAWL
    • All
    • Art & Design
    • Books
    • Movie
    • Music
    • Sports
    Kenya, Uganda, and Tanzania named Joint Hosts of AFCON 2027 as Nigeria loses bid

    Kenya, Uganda, and Tanzania named Joint Hosts of AFCON 2027 as Nigeria loses bid

    ‘The Black Book’ becomes 1st Nollywood Movie to rank number 1 Globally on Netflix

    ‘The Black Book’ becomes 1st Nollywood Movie to rank number 1 Globally on Netflix

    I’m not involved in Mohbad’s Death, Naira Marley insists

    I’m not involved in Mohbad’s Death, Naira Marley insists

    Nigeria’s Sports Minister arrives Egypt to bid for hosting AFCON 2027

    Nigeria’s Sports Minister arrives Egypt to bid for hosting AFCON 2027

    Tears as Nigerian Singer, Mohbad, is laid to rest in Lagos

    Mohbad: Reps mourn Late Musician

    Adesanya faces Three Months in Jail over Drunk Driving in New Zealand

    Adesanya faces Three Months in Jail over Drunk Driving in New Zealand

    Nigeria wins 12 Gold Medals at 2023 ITTF African Para Championships 

    Nigeria wins 12 Gold Medals at 2023 ITTF African Para Championships 

    Tears as Nigerian Singer, Mohbad, is laid to rest in Lagos

    Mohbad’s Autopsy completed- Lagos Police

    Police exhumes Body of Mohbad for Autopsy

    Police exhumes Body of Mohbad for Autopsy

    Tears as Nigerian Singer, Mohbad, is laid to rest in Lagos

    Why we buried Mohbad quickly on his only land- Mohbad’s Father

  • Opinion
  • Business
  • Features & Interviews
  • Best Of Lagos
    Lagos welcomes The Art hotel: A flamboyant 5 star Business Boutique Hotel

    Lagos welcomes The Art hotel: A flamboyant 5 star Business Boutique Hotel

    THE LUXURY NETWORK NIGERIA ANNOUNCES NEW MEMBER, AFFINITY ART GALLERY

    THE LUXURY NETWORK NIGERIA ANNOUNCES NEW MEMBER, AFFINITY ART GALLERY

    THE LUXURY NETWORK NIGERIA HOSTS MEMBERS’ NETWORKING FORUM

    THE LUXURY NETWORK NIGERIA HOSTS MEMBERS’ NETWORKING FORUM

    Exploring Lagos’ Gastronomy With Chef Priyank Singh of Hard Rock Cafe

    Exploring Lagos’ Gastronomy With Chef Priyank Singh of Hard Rock Cafe

    Olu Oyinsan- Saying Yes To Founders At The Early Stage

    Olu Oyinsan- Saying Yes To Founders At The Early Stage

    A Rare Hobby: Sports Fishing In Lagos

    A Rare Hobby: Sports Fishing In Lagos

    Chef Nkesi- Experiencing Different Cultures Through Food

    Chef Nkesi- Experiencing Different Cultures Through Food

    Wumi Jubril: Creating Memorable Experiences

    Wumi Jubril: Creating Memorable Experiences

    Nordic hotel

    Nordic Hotel Makes Grand Debut in Lagos

  • Things To Do
No Result
View All Result
The Lagos Today
No Result
View All Result
Home Business

Eight Banks, 18 other Companies Fined N125m for 2022 Quarterly Report Failure

by Rosemary Opara
August 28, 2023
in Business
3 min read
0
0
Manufacturing Firms Borrowed N570bn From Commercial Banks in 2020 Amid Covid-19 Pandemic
Share on FacebookShare on Twitter

…banks, insurance, media, oil and gas, others affected

A total of eight banks and 18 other listed companies have been fined N125m for failing to file their 2022 audited financial statements and quarterly reports for the first half of 2023 as required by Nigerian Exchange.

The affected banks were Unity Bank, FBN Holdings, Access Holdings, Fidelity Bank, Jaiz Bank, Wema Bank, Guaranty Trust Holdings Plc and Ecobank Transnational Incorporated.

John Holt, PZ Cussons, Notore Chemical, Glaxo SmithKline Consumer Nigeria, Industrial Medical and Gases Nigeria and Juli Plc were also affected by the sanction.

According to the NGX’s post-listing rules, quoted companies are required to submit their audited results, not later than 90 calendar days, or three months, after the expiration of the period. The rules also require quoted companies to submit interim reports not later than 30 calendar days after the end of the relevant period.

Based on the latest X – Compliance Report issued by the regulatory arm of the NGX, FBN Holdings was fined for delay in submitting its 2022 financial results and its quarter one report for 2023. The lender paid N6.3m for the former offence and paid N3.3m for the latter.

For failing to submit its 2022 results on time, Unity Bank paid N6.4m and another N3.4m for the delay in submitting its interim reports for Q1, 2023.

The report showed that Fidelity Bank, GTCO and Wema Bank paid N2.7m, N1.4m, and N1.9m, respectively as fines.

While Access Holdings paid N2m, Jaiz Bank, Ecobank, and John Holt coughed out N600,000,  N3.2m and N3.2m, respectively as penalties.

The NGX fined PZ Cussons N4.8m, Notore Chemical paid N500,000 and GSK, which announced the closure of its operations in Nigeria also paid a fine of N1.3m for failing to file its 2022 financial results as and when due.

Others also sanctioned for delay in filing their 2022 audited accounts include Industrial Medical and Gases Nigeria, which paid a fine of N1.2m, Juli Plc paid a penalty of N120,000 and NPF Microfinance Bank paid a fine of N1.8m.

The regulator also sanctioned Daar Communications, paying N1.7m fine, Champion Breweries and Abbey Mortgage Bank Plc were also fined N1.6m and N1.4m, respectively.

Regency Alliance Insurance and Thomas Wyatt Nigeria also paid N1.4m and N4.9m fines, respectively, for the same offence.

The NGX hammer also fell on Presco Plc (N24.8m); Ardova (N18.6m) and Universal Insurance Plc (N12.4) for flouting the filing regulations.

Conoil was also fined N7.9m for not filing its results within the stipulated period, while Caverton Offshore Support Group paid N5.7m as a penalty for the same offence.

Telecommunications services firm, Briclinks Africa Plc also cough out N590,000  fine during this period.

The Vice-chairman of Highcap Securities, David Adonri, said the fines were necessary to maintain the sanctity of the market.

“A lot of them relate to corporate disclosures. The capital market is information-driven. There is certain information that the listed companies must disclose at the appropriate time. If a company realised that it may not be able to disclose such information, the company can send a request to the exchange requesting additional time.”

Follow us on social media
  • Facebook
  • Twitter
  • Instagram
Tags: BanksNigerian exchangeQuarterly reports
Previous Post

National Debt Servicing with 90% Revenue is a path to Destruction – Tinubu 

Next Post

We are at risk of Disease outbreak, Lagos’ Idi-Araba Residents cry out over blocked Canal

Rosemary Opara

Rosemary Opara

Related Posts

FG launches Freight Services on Apapa-Ibadan Cargo Rail 

Port Decongestion: Maiden Train Cargo Trip from Apapa Port to Ibadan begins

by Rosemary Opara
September 30, 2023
0

…90 trucks of 40-foot containers on 3 trips daily The first-ever train cargo trip carrying containers from Apapa Port to...

Electricity to improve in Nigeria as Tinubu signs Electricity Act 2023 into Law

Nigeria secures $1.95bn Loan from World Bank in 4 Months

by Rosemary Opara
September 30, 2023
0

…despite an outstanding debt of $38.8 billion as of June 2023 A total of $1.95 billion loan have been secured...

Next Post
We are at risk of Disease outbreak, Lagos’ Idi-Araba Residents cry out over blocked Canal

We are at risk of Disease outbreak, Lagos’ Idi-Araba Residents cry out over blocked Canal

Please login to join discussion

Recommended

Nigeria’s Onne Ports Wharfs Its Biggest Container Ship

Nigeria’s Onne Ports Wharfs Its Biggest Container Ship

3 years ago
Business Owners on Lagos Airport Road Denies Pre-Notice by State Government

Aviation workers join NLC protest in Lagos

1 year ago

Popular News

    Newsletter

    Connect with us

    Tags

    #EndSARS 2023 Elections 2023 polls 2023 Presidency ACCIDENT Africa All progressives Congress APC Asiwaju Bola Tinubu Babajide Sanwo-Olu Bitcoin CBN Central Bank of NIgeria Central Bank of Nigeria (CBN) China Coronavirus pandemic Covid-19 Covid-19 in Lagos Covid-19 in Nigeria Covid-19 Vaccine Cryptocurrency Drug Trafficking EFCC Federal Government Federal Government of Nigeria Fraud Godwin Emefiele Gov. Sanwo-Olu Insecurity Lagos-Ibadan expressway Lagos state Lagos State Government Lagos State House of Assembly Lagos State Police command Muhammadu Buhari Murder Murtala Muhammed International Airport Naira NDLEA New naira notes Nigeria Rape Strike action United states US

    News

    • Business
    • National
    • Politics
    • Tech

    Opinion

    • Editorials
    • Today’s Opinion
    • Letters
    • Sunday Review
    • Advertise
    • Opinion
    • Features & Interviews
    • Investigation
    • Contact

    © 2020 The Lagos Today - Nkali.

    No Result
    View All Result
    • Home
    • News
      • Lagos News
      • National News
      • World News
    • Entertainment
    • Opinion
    • Business
    • Features & Interviews
    • Best Of Lagos
    • Things To Do

    © 2020 The Lagos Today - Nkali.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Create New Account!

    Fill the forms bellow to register

    All fields are required. Log In

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In