SEC Notifies Coys on Filing Options

The Securities and Exchange Commission (SEC) has notified all public companies of the available options on filing of 4th Quarter and Annual Audited Financial Statements.

This was contained in a circular released by the SEC weekend in Abuja.

One of the options the Commission said, is to file the Unaudited Fourth (4th) Quarter Financial Statement within thirty (30) days after the Quarter end, and file Annual Audited Financial statements within ninety (90) days after the year-end:

Another Option according to the SEC is not to file the Fourth (4th) Quarter Unaudited Returns but to file the Annual Audited Financial Statements within Sixty (60) days after the year end.

The Commission said this is sequel to the Pilot Scheme on filing of Fourth (4th) Quarter and Annual Audited Financial Statements by Public Companies introduced in March 2019.

“Consequently, Public Companies are advised to adopt a filing regime and strictly adhere to its preferred filing option.

“Public companies should note that failure to abide by an adopted filing regime will be deemed a violation of Section 60 of the Investments and Securities Act, 2007” the SEC stated.

In another Circular, the Commission has reminded Capital Market operators and relevant stakeholders that the 2022 registration renewal exercise will end on 31st January 2022, and there will be no extension.

The SEC said “The renewal portal can be accessed via eportal.sec.gov.ng and Capital Market Operators that fail to renew their licenses will be barred from performing capital market activities in 2022”.