For the Securities and Exchange Commission, it’s time to lead by example as shareholders of quoted firms begin to take it to task over the alleged failure to upload its audited results for eight years on its website and thus deny them access to the financial document. Kayode Tokede writes on rules and regulations that govern the SEC on the filing of results
Shareholders of the Nigerian quoted firms are not happy with the Securities and #Exchanges Commission (SEC) over the failure of the commission to publish its eight years results to the investing public through its website.
The last time the commission published its audited account on its website was in 2014 when it displayed its 2015 financials. That was during the tenure of Ms. Arunma Oteh as the Director-General, and Malam Sulleyman Ndanusa, the board chairman of the commission. From the era of the then Acting Director-General of the commission, Ms. Mary Uduk who was appointed by former Minister of Finance, Kemi Adeosun on April 13, 2018, till the coming on board of Mr. Lamido Yuguda, whose appointment was confirmed by the Senate on 10th June 2020, the story has remained the same. This is because up till now, the commission has not submitted its results on its website, according to THISDAY investigation.
Uduk’s explanation back then was that the Commission would publish its audited results once a board was appointed and signed during President Goodluck Jonathan’s administration
Findings showed that Yuguda, since appointed the Director General of SEC three years ago, has not publicly disclosed the apex capital market’s annual reports and accounts.
In addition to the executive and non-executive members of the SEC Board, the Central Bank of Nigeria (CBN), and Federal Ministry of Finance (FMF) also have their representatives on the #SEC Board.
However, a source at the commission explained to THISDAY that the audited results are submitted to the Minister and the National Assembly every year.$BTC $ETH #binance
