Business
11 Firms Fail To File 2016 Result
The Nigerian Stock Exchange (NSE) last Monday said 11 quoted companies have failed to file their 2016 audited results within the stipulated time.
The exchange said in a statement in Lagos that the defaulting companies included Con Oil, Capital Hotel, Niger Insurance, A G Leventis, African Alliance Insurance and Austin Laz Company.
Others are Resort Savings; Loans, Premier Paints, Sovereign Trust Insurance, Smart Products and Union Diagnostic & Clinical Services.
The Exchange said the companies missed the deadline to file their Audited Financial Statements (AFS) for the year December 31, 2016.
It stated that the listed companies’ AFS became due on March 31, 2017.
According to the Exchange, the companies have violated the Rule 1.1.4, for Filing of Accounts and Treatment of Default Filing, Rulebook of the exchange.
It noted that the issuers rules required listed companies to file their AFS “with the exchange not later than 90 calendar days after the relevant year end.”
The Tide source reports that rule 1.1.4 requires that the AFS must be “published in at least two national daily newspapers not later than 21 days before the date of the Annual General Meeting, and posted on the company’s website, with the web address disclosed in the newspaper publications.
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FG Fixes Uniform Prices for Housing Units Nationwide, Approves N12.5m For 3-bedroom Bungalow ……..Says Move To Enhance Affordability, Ensures Fairness
“The approved selling prices are as follows: One-bedroom semi-detached bungalow, N8.5 million; two-bedroom semi-detached bungalow: N11.5 million and three-bedroom semi-detached bungalow, N12.5 million,” the statement added.
Minister of Housing and Urban Development, Ahmed Dangiwa, stated that priority in the allocation of the housing units would be given to low and middle-income earners, civil servants at all levels of government, employees in the organised private sector with verifiable sources of income, and Nigerians in the Diaspora who wish to own homes in the country.
The Permanent Secretary in the ministry, Dr. Shuaib Belgore, explained that several payment options have been provided to make the houses affordable and flexible. These include outright (full) payment, mortgage, rent-to-own scheme, and installment payment plans.
The ministry further announced that the sale of the completed housing units across the northern and southern regions will soon commence.
“Applications can be made through the Renewed Hope Housing online portal at www.renewedhopehomes.fmhud.
The ministry, however, clarified that the approved prices apply strictly to the Renewed Hope Housing Estates which are funded through the ministry’s budgetary allocation, as against the Renewed Hope Cities in Karsana Abuja, Janguza Kano, Ibeju Lekki, Lagos which are being funded through a Public Private Partnership (PPP).
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