Ecobank Transnational Incorporated explains delay of result

Greg Davis

Ecobank Transnational Incorporated says the Central Bank of Nigeria is not the reason for the delay of the release of its 2016 financial results.

The bank says the delay is caused by the late submission of report by Ecobank Nigeria. Though the date of the release of the result is not stated in the document.

The company said “Ecobank Transnational Incorporated (ETI) wishes to clarify the announcement on the delay to results made on 31 March 2017. The delay on account of awaiting regulatory approval for the release of results for the subsidiary of Ecobank Nigeria is not by any way the fault of the Central Bank of Nigeria.

The delay of the regulatory approval is due to the late submission of the year ending 2016 Financial Statements by Ecobank Nigeria. This submission to the Central Bank of Nigeria was made on 3 April 2017. We apologise to the regulatory bodies that this was not clear in the original announcement.

ETI apologizes for any inconvenience caused and will update the market in due course, following with an analysts and investor conference call to discuss the financial results.