CBN Approval Delays GTCO, Stanbic IBTC H1 2021 Audited Result

Darasimi Adebisi

Guaranty Trust Holdings Company (GTCO) Plc has joined Stanbic IBTC Holdings Plc and United Bank for Africa (UBA) Plc to explain the delay in the release of half year (H1) audited result for the period ended June 30, 2021.

The Company Secretary/General Counsel, GTCO, Erhi Obebeduo in a statement yesterday said the Holdings company has taken steps to finalise the audited H1 financial statement (AFS) for the period ended June 30, 2021 with the external auditors and some submitted to the Central Bank of Nigeria (CBN) for approval before release of some to the market.

He stated in a statement that: “The CBN is still in the process of reviewing the AFS and same would be published upon receipt of approval.”

On his part, the Company Secretary, Stanbic IBTC Holdings, Mr Chidi Okezie in a notice informed Nigerian Exchange Limited (NGX) and its stakeholders said the company was currently seeking approval from the CBN to ensure the release of its audited half year results ended June 30.

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; and this may occur before or shortly after the regulatory due date of August 29, ”it explained.

UBA had last week hinted investing public and management of the NGX that bank’s board at a meeting last week considered and approved the 2021 audited H1 2021 and payment of an interim dividend, subject to the approval of the CBN.