Guinea Insurance fails to submit financial statements, seeks extension

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Guinea Insurance has sought an extension of the date it is supposed to file its Audited Financial Statements for the year ended December 31, 2020.

In a regulatory filing by the insurance firm to the Nigerian Stock Exchange dated March 29, 2021, it said it would not be able to meet the regulatory due date of March 31, 2021.

In its statement titled ‘Late filing of Audited Financial Statements for the year ended December 31st 2020’, it appealed to the exchange for further extension to file the results by the middle of the year.

It also explained that the decision to seek an extension would affect the readiness of its financial statements for the first quarter of 2021.

The statement read, “The request for an extension is as a result of an emphasis of the matter raised by the company’s auditors, BDO Professional Services, and the need to clarify this with the Financial Reporting Council of Nigeria and obtain the approval of the council before the publication of the account.

“By extension, the delay will also affect the release of the Unaudited Financial Statements for the period ending March 31 2021 (2021 Q1).”

It apologised for the delay in the publication of the results and vowed to submit 2019 financials no later than June 29, 2021, and Q1 2021, not later than July 30, 2021.

Source: PUNCH.

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