Sterling Financial Holdings Company Plc has announced a delay in the publication of its Audited Financial Statements (AFS) for the year ended December 31, 2024.
In a statement addressed to the Nigerian Exchange Limited (NGX), shareholders and the investing public, the company attributed the delay to the transition to a new banking application, which has affected the finalization timeline of its financial audit.
According to the notification signed by Executive Director Olayinka Oni, the auditors require additional time to complete their review and as a result, the 2024 AFS will now be published on or before April 30, 2025, pending requisite regulatory approvals.
The company assured stakeholders of its commitment to regulatory compliance and transparency, emphasising that it remains aligned with NGX’s post-listing requirements.
As a consequence of the delayed financial report, Sterling Financial Holdings’ closed trading period, which began on January 1, 2025, will remain in effect until 24 hours after the release of both the 2024 AFS and the Unaudited Financial Statements for Q1 2025.
This restriction prohibits directors and other insiders from trading in the company’s securities during the extended closed period.
Sterling Financial Holdings reiterated its dedication to sound corporate governance and investor protection, stating that the transition to an upgraded banking system is a strategic move aimed at enhancing operational efficiency.
With the financial results now expected in April 2025, market analysts and investors will closely monitor developments as the company works towards completing its audit and resuming normal disclosure timelines.
