Sterling Bank has banned the company’s directors and other individuals with access to sensitive materials relating to the firm’s financials from trading its shares.
The financial institution took the decision following its inability to meet the deadline set by the capital market regulator, Securities and Exchange Commission (SEC), for the submission of the Audited Financial Statements (AFS) for the year ended December 31, 2022.
Ripples Nigeria understands that the deadline to release the annual earnings report is March 31, 2023, but Sterling Bank in a statement jointly signed by Demola Adesina, public relations and Ibidapo Martins, Marketing and Communications, said it will be unable to release the financials before the deadline.
