Home Business Restructuring Delays Skye Bank 2016 Full Year Account

Restructuring Delays Skye Bank 2016 Full Year Account



Skye Bank Plc, says it will not be able to submit its financial statement for the period ended December 31, 2016, due to some restructuring and changes that took place in the bank. According to a statement send to the Nigerian Stock Exchange sign by the company secretary Babatunde Osibodu “the bank is currently experiencing some delays with the completion of the audit exercise of its Audited financial statement (AFS)”

The bank further explained that following “the intervention of the CBN in the bank in July 2016, there was an over-haul of the Bank’s Corporate Governance framework which led to major resignations and new appointments into the board and changes in specific internal structures and the need to have in place some other structures prior to the approval of the bank’s accounts. This led to the conduct of an interim audit of the Bank’s half year accounts of 2016”.

According to the statement, the 2016 audited financial account which is already with the Central Bank Nigeria (CBN) for its review and regulatory approval and the quarterly returns for 2016 would be filed on or before Friday 12, May 2017.  It would be recalled that based on the NSE post list requirements Skye Bank Plc supposed to submit their 2016 audited account on or before March 31, 2016. Late filing of audited and unaudited account attracts penalties




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