Stanbic IBTC Holdings says CBN’s delayed approval stalls release of half-year result

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Photo: Demola Sogunle, Stanbic IBTC Holdings CEO

Stanbic IBTC Holdings says CBN’s delayed approval stalls release of half-year result

Stanbic IBTC Holdings Plc has explained that the delay in the release of its half year audited result for the period ended July 31 is caused by the CBN’s delay in approving it.

Mr Chidi Okezie, the Company Secretary, said this in a statement posted on the website of the Nigerian Exchange (NGX) Ltd. in Lagos on Tuesday.

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The notice informed NGX Regulatory Ltd. and its stakeholders that the company was currently seeking approval from the Central Bank of Nigeria (CBN) to ensure the release of its audited half year results ended July 31.

The notice read: “This is to inform NGX Regulation Ltd. as well as our esteemed stakeholders that we are experiencing a slight delay in the release of the 2021 half year audited financial statements for Stanbic IBTC Holdings Plc.

“This delay is occasioned by the fact that we are currently seeking the approval of our primary regulator, the CBN for the half-year audited financial statements, following which the said financial statements will then be released to the market.

“We are working diligently to ensure that our company’s half year results are submitted to the NGX as soon we receive approval from our primary Regulator, the CBN.

“This may occur before or shortly after the regulatory due date of  Aug. 29,” the statement explained.

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