Fidelity Bank Seeks Board Approval of 2019 Audited Financial Report March 2

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Fidelity Bank Plc says it will hold an emergency board meeting on March 2 to consider and approve 2019 audited financial statements.

The bank stated this in a notice on Friday to the Nigerian Stock Exchange (NSE) and the general public, signed by its Company Secretary, Ezinwa Unuigboje.

It said the emergency board meeting would hold on March 2 at 9.30 am, to consider and approve the company’s audited financial statements for the financial year ended Dec. 31, 2019.

“Upon approval by the Board, the audited financial statements shall be presented to the Central Bank of Nigeria for approval and thereafter published in compliance with the provisions of the NSE Rule Book and other relevant provisions.

“The bank had earlier communicated to its insiders a closed period relating to trading in the shares of the bank from Jan. 24 until 24 hours after its Audited Financial Statement for the year ended Dec. 31, 2019, is released to the public.

“The Nigerian Stock Exchange has been notified of this development,” said the notice.

The News Agency of Nigeria (NAN) reports that the Securities and Exchange Commission (SEC)’s communication requires public companies to adopt one of two options.

The first option is to file the fourth quarter unaudited financial statement (UFS) within 30 days after the quarter-end and Annual Financial Statement (AFS) within 90 days after the year-end.

The second option is not to file fourth quarter UFS but to file the AFS within 60 days after the year-end.

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