Again, African Alliance Insurance Delays Filing, to Release Financial Statements (H1, 2021) on or Before September 29th

African Alliance Insurance Plc on Monday announced it will not be filing the company’s unaudited financial statements for the period ended 30th June 2021 before the regulatory due date of 30th July 2021.

This was contained in a statement signed by Anthonia Udeh, Company Secretary.

The company attributed the delay to its failure to file its audited financial statements for the period ended 31st December 2020, a prerequisite for filing Q2, 2021.

It would be recalled that Investors King had reported that the Nigerian Exchange Limited had suspended the trading license of African Alliance Insurance Plc and three other companies on Friday 2, July 2021 for failing to file their financial reports.

However, African Alliance Insurance Plc has now submitted the 2020 Audited Financial Statements to its primary regulator, National Insurance Commission (NAICOM) for approval, according to the company.

To prevent another suspension, the company, therefore, stated that it has obtained approval from the Nigerian Exchange Limited for an extension until 29 September 2021 to Submit the unaudited financial statements for the second quarter of 2021.

The statement reads “African Alliance Insurance Plc (the Company) regrets to notify its esteemed shareholders and other stakeholders that the Company’s Unaudited Financial Statements (UFS) for the period ended 30th June 2021 (2021 Q2 UFS) will not be filed before the regulatory due date of 30th July 2021.

“This delay is occasioned by the fact that the Company is yet to file its Audited Financial Statement (AFS) for the period ended 31st December 2020 which is a prerequisite for filing the 2020 Q2, UFS.

“However, the 2020 AFS has been submitted to its primary regulator, National Insurance Commission (NAICOM) for approval and the Company is awaiting the Commission’s nod.

“The Company has sought and obtained approval of the Nigerian Exchange Limited (NGX or the Exchange) extension of time up to 29 September 2021 to submit the 2021 Q2 UFS.

“We wish to reassure you that the Company is working assiduously towards submitting its Q2, 2021 Unaudited Financial Statements (UFS) within the period extended by the Exchange.”