Standard Alliance Insurance has clarified the reasons for the delay in submitting its unaudited financial statements and audited financial statements for the year ending December 31, 2024.
In a notice addressed to the Nigerian Exchange Group (NGX), Halima Jimada, the company’s Secretary/Legal Adviser, explained that the delay is due to a significant restructuring process the company is undergoing.
Jimada highlighted that the restructuring process aims to address critical corporate issues and lay the foundation for sustainable growth. As a result, he stated that the timelines for preparing and finalising the financial statements have been affected.
The company has assured NGX and its shareholders of its commitment to transparency and regulatory compliance.
Standard Alliance Insurance is now aiming to file its outstanding financial statements by March 31, 2025, for the 2024 Q4 Unaudited Financial Statements, and by June 30, 2025, for the 2024 Audited Financial Statements. Once filed, the statements will be available on the company’s website and through the Issuers’ Portal.
The Nigerian Exchange Group (NGX) is an integrated stock exchange group in Africa, established in 1961. Following the demutualisation of the Nigerian Stock Exchange (NSE) in 2021, NGX Group now operates through three subsidiaries: Nigerian Exchange Limited (NGX), NGX Regulation (NGX RegCo), and NGX Real Estate (NGX RelCo).
