United Bank for Africa Faces Delay in Publishing 2023 Audited Financial Statements

United Bank for Africa (UBA), one of Nigeria’s leading financial institutions, has encountered a setback in its financial reporting as it faces delays in publishing its 2023 audited financial statements.

In a statement released through a notice to the Nigerian Exchange Limited (NGX), the lender attributed the delay to the ongoing review and approval process of the financial statements submitted to the Central Bank of Nigeria (CBN).

According to the notice, the awaited audited financial statements for the year ended December 31, 2023, are yet to receive the necessary approval from the CBN.

As a result, UBA has not been able to publish its financial reports on the NGX portal as scheduled.

The bank reassures stakeholders that the audited financial statements will be made available promptly upon receipt of approval from the CBN, with an expected publication date on or before Tuesday, April 30, 2024.

In compliance with the post-listing requirements of the Nigerian Exchange Limited for quoted companies, UBA also declares the continuation of the Closed Period for trading in the bank’s shares.

This period will persist until 24 hours after the release of both the audited financial statements for the year ended December 31, 2023, and the unaudited financial statements for the first quarter ending March 31, 2024.